Kodak loan from federal government now under review, Wall Street Journal reports


ROCHESTER, N.Y. (WROC) — The $765 million loan for Kodak announced this summer is now under an inspector general’s review, according to the Wall Street Journal.

MORE | Kodak lands $765M federal loan to develop prescription drug ingredients, aims to add 300 jobs in Rochester

It reports that the inspector General of the U.S. International Development Finance Corporation told Senator Elizabeth Warren that his office has opened a probe into that loan and the circumstances surrounding it.

In early August, Eastman Kodak Company announced an appointment of a special committee that will look into the recent activities surrounding the announcement of a potential loan for Kodak Pharmaceuticals.

The loan — meant to bring pharmaceutical manufacturing to Rochester — came under scrutiny when a surge in stock prices began before the official announcement.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Covid-19 County by County tracker

Trending Stories

Don't Miss

More Don't Miss