 He was president of the Continental National Bank of Fort Worth, Texas.Continental National Bank was one of a number of banks which participated in a line of credit for the TFX (Tactical Fighter Experimental), which later emerged as the more well-known F-111 Aardvark.When asked about this alleged conflict of interest at a press conference, President Kennedy responded, "...I have no evidence that Mr. Korth acted in any way improperly in the TFX matter...I have no evidence that Mr. Korth benefited improperly during his term of office in the Navy, and I have no evidence, and you have not, as I understand the press has not produced any, nor the McClellan Committee, which would indicate that in any way he acted improperly in the TFX.