Like the 3,200 other pages of evidence uncovered and descriptions of crimes on this site, this web page is only one part of a massive multi-state entanglement of government corruption and cover-up. See size
Evidence was uncovered in parts over years, and not in the same order as the crimes occurred or the evidence was created. Statements were made based on what was known at the time.
Dates are approximate because government filings and reports vary in some cases up to months if not This is part of cover up. One example is Oklahoma's Openbooks, which started out late with only a fraction of what was required to be added each year. Plus, the data was littered with data entry and spelling errors, meaning you have to go through one entry at a time. This amount to more than 17,000 entries in 2017.
Oklahoma CITY – Quartz Mountain Aerospace, whose loan defaults helped take down an Altus bank earlier this year, has filed for Chapter 7 bankruptcy, listing $30.38 million in assets and $16 million in liabilities.
The largest of its listed assets is $16 million for an aircraft specification certificate from the Federal Aviation Administration for an aircraft.
Among creditors holding $7.8 million in secured claims, Quartz Mountain listed at least three related to the First State Bank of Altus, which regulators shut down earlier this year. It has since reopened under a new owner.
The creditor listing of Quartz Mountain, formerly Luscombe Aircraft Corp., includes a claim for $2.25 million from First State Bank, which was apparently secured by two aircraft and other property; a claim of $2.15 million from First State Bank Development, with several types of property subject to lien; and a claim of $1.5 million for FSB Development Capital LLC, with three aircraft subject to lien.
The filing also outlined a claim of $1.13 million from the Oklahoma Industrial Finance Authority.
Quartz Mountain, which received millions of dollars in state tax credits and incentives, also listed $1.3 million in unsecured priority claims and almost $6.9 million in unsecured nonpriority claims.
Its unsecured priority claims include $35,000 in withholding taxes owed to the Oklahoma Tax Commission and $108,000 in payroll taxes owed to the Internal Revenue Service.
The company said it wants to liquidate assets to pay off creditors, including local banks, the city of Altus, the Oklahoma Industrial Finance Authority and the Oklahoma Tax Commission.