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Massive $765M federal loan under investigation by Inspector General

The federal Inspector General is inquiring about the potential multi-million dollar deal for Eastman Kodak after signing a letter of intent with the U.S. Development Finance Corporation over the summer.

It was a deal that sent shockwaves through the business community.

Kodak had signed a letter of intent with the DFC starting the process to secure a $765 million federal loan to help the company begin producing pharmaceutical products.

After Kodak’s stock soared, news of the timing of the stock price’s ascent raised some eyebrows.

The DFC is providing answers and information as part of a request by the Inspector General’s Office.

Michael Horowitz serves as the Inspector General for the U.S. Department of Justice.