Oct. 15 (Bloomberg) — William Koch held a senior executive of his Oxbow energy company captive for almost two days after discovering his concerns about a plan to avoid U.S. taxes on $200 million in profit, the now ex-employee said in a lawsuit.
Former Oxbow Senior Vice President Kirby Martensen alleged that an unrelated company probe revealed his misgivings over the purported effort by Oxbow Carbon & Minerals LLC. As a result, Martensen said, he was falsely imprisoned by Koch's agents and interrogated at a remote Colorado estate as part of an attempt to intimidate him. He was also fired, he said.
Koch, who Bloomberg Billionaires Index estimates is worth $3.7 billion, is the brother of conservative Tea Party funders David Koch and Charles Koch. Martensen, promoted last year to senior vice president, said he was lured to the billionaire's "Bear Ranch" near Aspen in March on false pretenses and questioned about anonymous allegations of wrongdoing made against him tied to a kickback scheme. The company sued him over the claims in Florida state court March 22, while he was allegedly being held against his will in Colorado.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
