NORMAN OK (July 01, 2008) - Deliberate ignorance, deliberate neglect, cover-up, reaping Oklahoma officials $ millions?
The question is not are Oklahoma officials involved? They are, but claim it is not illegal!
Oklahoma lawmakers made sure it would not be illegal, hide any involvement and operate with full autonomy insuring state officials would avoid involvement that could be construed as a conflict of interest
Loopholes (falsely claimed to have been closed) in Oklahoma's Capital Formation Investment Act allows Oklahoma officials to hide their participation in a state funded program, and reap millions in unearned profits. While these same official claim there is nothing illegal occurring and praising the program's benefits.
The program created to operate with full autonomy allows certain unidentified venture capital companies, using artificial loans to inflate an investment to nearly seven times the actual investment, then take, automatically, 200% of the actual investment in tax credits. Tax credits they can immediately sell obtaining the cash to fund the each investor's investment cost and pay each investor an additional 100% profit.