Nation: Treasury Secretary Accused

SEC says Miller knows about Textron's wining and dining

There have been no payments that are illegal or ... improper anywhere throughout the company." So said G. William Miller, suave, silver-haired chairman of the giant conglomerate Textron Inc. to his stockholders in 1976. Such statements were "erroneous and misleading," the Securities and Exchange Commission alleged last week; after a two-year investigation, it said Textron had made improper payments overseas. And while the SEC left open the question of whether Miller, who is now Secretary of the Treasury, knew about the payments, it said...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!