◆ SpookStack

WFO 77-4395 brothers, acquired a 49 per cent interest in the stock of the corporation. At the same time, a three per cent interest in the corporation was acquired by three citizen stockholders, all of whom were tied closely to ONASSIS through mutual business interest. This Senate report also stated "Looking at this series of transactions from the point of view of voting stock “control, it is evident that the three minority stockholders, COKKINIS, CARVER, and STUREN, held the balance of power at the voting, and in the event of any dispute between BEKENSON and the ONasoIS-KONIALIDIS interests, anyone of the three United States citizens could put the foreign interest in the position of control." The Department of Justice has under consideration certain transactions as they relate to the possible criminal violation, involving officials amd various represertatwes of American Overseas Tanker Corporation, National Tanker Corpora- tion, China International Foundation, Incorporated, United Tanker Corporation, North American Shipping and Trading Cor- . | : : poration, Incorporated, and, United States Petroleum Carriers Incorporated, as well as the subsidiaries and affiliates of these firms. The possible criminal violation under consideration, involves the willful falsification or concealment of material facts as well as conspiracy to defraud the Government in con- nection with the various phases of these tanker transactions. The Sub-Committee is of the opinion that there appears to be sufficient evidence of violation of the first provision of the Merchant Shipping Act in these tanker transactions to warrant board action of the Department of Justice. In addition, the concealment and misrepresentation of vertinent facts by various officers and representatives of the firms involved in this inquiry in their dealings with the Maritime Commission, leads the Sub-Committee to believe that various criminal statutes may have been violated by these individuals. -RUC-