The smoking gun, Altus Venture's internal financial records verify false $200 million tax credit claim!
  Main Site Home Site Maps Those involved Blog & Articles Scams & Frauds General Search this site  


     Home

     Blogs

     Recent Updates

     Known abuses

        Claimed investments

        Tax credits used

     The financial shell games

     Extent of false reporting

     About this fraud flawed law

     Guide to flaws in the law

     Colorado land scam


[?] Subscribe To This Site

XML RSS
Add to Google
Add to My Yahoo!
Add to My MSN
Subscribe with Bloglines

 

We now have available copies of financial records for Altus Venture Capital Fund and key associated subsidiaries, including Oklahoma Industrial Venture Capital Company (OIVCC), which filed the $200 million false claim. These financials cover the period January 1, 2005, through July 31, 2007.

The financial dealings of Altus Venture and OIVCC are key aspects of the current federal investigations involving the Altus banking group.

OIVCC claimed investing $200 million in one company during 2006. OIVCC had two business ventures under fund management, and had by the end of 2005 already invested all it was going to invest.

Questions about the Altus group's tax credit abuse had already created controversy and had widespread media coverage, including comments from Tony Mastin the Oklahoma Tax Commission Administrator during 2006. Yet this $200 million false claim was accepted and tucked away in secrecy where no one would ever see the claim.

This comes on top of two other indisputable sets of evidence the Oklahoma Tax Commission's own internal, and highly secretive records, reveal: 1) OTC has been accepting claims that any reasonably intelligent person doing their homework should immediately recognize as fraudulent; and 2) OTC has been reporting false information on OpenBooks to hide both the fraud and its own involvement.

The evidence speaks for itself!

Other mounting evidence suggests this is a wide spread continuing fraud of monumental portions, involving public officials. Oklahoma has reached the critical mass stage of involvement by public officials, leaving too few if any officials left that are willing or strong enough to step forward and stop the monetary carnage.

This massive out of control fraud exists for the simple reason that public officials entrusted to protect the public interest, are instead using that authority to hide the activities and report false information about this program denying the public access and learning what is occurring.

Mystery Loot

There are other suspicious aspects of these records that warrant additional pursuit. One in particular is a Merrill Lynch account. This appears to be little more than a money holder that accumulated nearly $169 million from May 2005 through August 2006. Then $155 million suddenly disappeared in September 2006. It doesn't fit that anyone would let that kind of money set either paying or not drawing interest? One possibility, the money is there for a purpose this group did not want to risk leaving a trail?

To access the financial records. View more


Copyright 2007 - 2012 Prowling Owl
The Prowling Owl is dedicated to exposing public corruption, fraud, scams, embezzlement, and such. Any questioning the validity or accuracy of information on this Website should be provided with clear and consise specificity regarding information in question and evidence. The Prowling Owl will take appropriate action. Correcting any information demonstrate to be inaccurate or invalid.
Email: ProwlMaster@prowlingowl.com