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20 - ORGANIZATIONS/PRIVATE/Lockheed Aircraft Company.md
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@ -9,18 +9,35 @@ summary: "The Lockheed Aircraft Company is an USA aerospace manufacturer that de
start: 1926
end: 1995
location: "Burbank, California, USA"
relations:
- type: investigated
with: "[[Securities and Exchange Commission]]"
reverse: true
role: "review of the company's disclosures of questionable overseas payments and sales commissions; about 200 million dollars in commissions questioned, per 1977 testimony"
start: 1975
fn: 3
---
The [[Lockheed Aircraft Company]] is an [[United States|American]] aerospace manufacturer that developed advanced military aircraft and became involved in a bribe scandal affecting [[Israel|Israeli]] politics.
### U-2 Spy Plane Development
Lockheed built the revolutionary [[U-2 Spy Plane]] under cover in Burbank, California. This aircraft was capable of flying and gliding for almost eleven hours at heights greater than 65,000 feet, covering more than five thousand miles, while utilizing only one thousand gallons of fuel. Special lenses, cameras, and thin film were developed for the U-2, enabling it to photograph a path from [[Moscow]] to [[Tashkent]] in one take.[^2]
Lockheed built the revolutionary [[U-2 Spy Plane]] under cover in Burbank, California. This aircraft was capable of flying and gliding for almost eleven hours at heights greater than 65,000 feet, covering more than five thousand miles, while utilizing only one thousand gallons of fuel. Special lenses, cameras, and thin film were developed for the U-2, enabling it to photograph a path from [[Moscow]] to [[Tashkent]] in one take.[^1]
### Israeli Bribery Scandal
In 1976, a telegram intercepted by [[Unit 8200]] revealed details of bribes paid by a [[Lockheed Aircraft Company|Lockheed]] representative in [[Israel]] to Defense Minister [[Shimon Peres]]. The sum involved was $3.5 million, deposited in one of [[Shimon Peres|Peres's]] brother's business accounts in [[Europe]]. This information, discovered by [[Ari Ben-Menashe]], was subsequently covered up by [[Israel|Israeli]] military intelligence superiors, including [[Yoel Ben-Porat|Col. Ben-Porat]] and [[Sasson Yishaek|Lt. Col. Yishaek]].[^1]
In 1976, a telegram intercepted by [[Unit 8200]] revealed details of bribes paid by a Lockheed representative in Israel to Defense Minister [[Shimon Peres]]. The sum involved was $3.5 million, deposited in one of Peres's brother's business accounts in [[Europe]]. This information, discovered by [[Ari Ben-Menashe]], was subsequently covered up by Israeli military intelligence superiors, including [[Yoel Ben-Porat|Col. Ben-Porat]] and [[Sasson Yishaek|Lt. Col. Yishaek]].[^2]
### Disclosures to the Securities and Exchange Commission, 1975 to 1977
In testimony to the House Subcommittee on Consumer Protection and Finance in April 1977, [[Gordon Adams]] of the [[Council on Economic Priorities]] said that Lockheed had disclosed about 25 million dollars in questionable overseas payments, while the [[Securities and Exchange Commission]] had raised questions about nearly 200 million dollars in Lockheed sales commissions.[^3]
The subcommittee's record also contains a statement by Representative [[Michael J. Harrington]], who wrote: "One day it is Lockheed. Another day it is Gulf. A third day it is General Tire." He wrote that allegations that [[Prince Bernhard of the Netherlands|Prince Bernhard]] had received 1.1 million dollars in Lockheed payments had led to his resignation from his official posts.[^3]
The commission's May 12, 1976 report to the Senate Banking Committee on questionable and illegal corporate payments and practices summarized its enforcement action against Lockheed: it alleged secret payments of at least 25 million dollars to foreign government officials, at least 750,000 dollars deposited in a secret Swiss bank account, and over 200 million dollars disbursed to consultants and commission agents without adequate records.[^4]
### Footnotes
[^1]: Ben-Menashe, Ari. _Profits of War: Inside the Secret U.S.-Israeli Arms Network_. Sheridan Square Press, 1992 (TrineDay reprint, 2015).
[^2]: Hersh, Seymour M. _The Samson Option: Israel's Nuclear Arsenal and American Foreign Policy_. Random House, 1991. Chapter 4.
[^1]: Hersh, Seymour M. _The Samson Option: Israel's Nuclear Arsenal and American Foreign Policy_. Random House, 1991. Chapter 4.
[^2]: Ben-Menashe, Ari. _Profits of War: Inside the Secret U.S.-Israeli Arms Network_. Sheridan Square Press, 1992 (TrineDay reprint, 2015).
[^3]: Unlawful Corporate Payments Act of 1977, Hearings on H.R. 3815 and H.R. 1602 before the Subcommittee on Consumer Protection and Finance of the Committee on Interstate and Foreign Commerce, House of Representatives, 95th Congress, 1st session, April 20 and 21, 1977 (Serial No. 95-11). Statement of Gordon Adams (beginning p. 26); statement of Rep. Michael J. Harrington (pp. 168-173). https://www.govinfo.gov/content/pkg/CHRG-95hhrg91391O/pdf/CHRG-95hhrg91391O.pdf
[^4]: U.S. Securities and Exchange Commission, Report of the Securities and Exchange Commission on Questionable and Illegal Corporate Payments and Practices to the Senate Banking, Housing and Urban Affairs Committee, May 12, 1976, Securities Regulation and Law Report No. 353 (BNA), May 19, 1976, Special Supplement, Exhibit B (Lockheed Aircraft Corporation). https://sechistorical.org/wp-content/uploads/1976_0512_SECQuestionable.pdf