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Lockheed faces probe by federal board
Washington The federal board overseeing government contracts is examining whether Lockheed violated obligations by not disclosing a $22 million payment to foreign officials and political organizations. If found at fault, the Emergency Loan Guarantee Board could refuse to guarantee further Lockheed loans unless full disclosure of overseas payments is promised. Edward C. Schenulis, undersecretary of the Treasury and executive director, noted the potential action.
MENTIONED IN THIS ARTICLE
Washington
Federal Board
Lock
Dward C. Schenulis
the Treasury
Emergency Loan Guarantee’ Board
Lockheed
Schmults
William E. Simon
Arthur F. Burns
Federal Reserve Board
Ray Garrett Jr
Securities and Exchange Commission
Garrett
SEC
William P. Rogers
Commission
Congress
Joan Board