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International Controls Corporation

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 1973

    Political contribution controversy

    A $200,000 contribution to Maurice Stans, finance chairman of the Committee to Re-elect the President, was disclosed in a deposition concerning efforts to obtain political intervention in the SEC inquiry. The disclosure added a political-corruption dimension to the securities investigation.

    Source

  2. 1973

    Vesco flight and securities-fraud charges

    Vesco fled to Costa Rica while facing multiple indictments related to securities fraud and allegations involving approximately $224 million in IOS investments. ICC subsequently faced heavy debt, lawsuits, court supervision, and suspension of its stock trading.

    Source

  3. 1971

    SEC investigation into IOS and ICC-related transactions

    The SEC investigated Robert Vesco's attempted takeover of Investors Overseas Service and allegations that IOS investment funds had been transferred to offshore enterprises controlled by ICC. The investigation became the central legal crisis of the corporation's early history.

    Source