Like the 1,000s of 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

Newly uncovered Altus Gang fake loan scheme involving over $1 Billion!

August 20, 2009

We all know there are suppliers of false identification, passports, titles and the like. How many were aware there is far more money in fake loan documents. We are talking big fake loan documents! Potentially $1.4 Billion: maybe more, maybe less, but what is a few $100 million?

We had previously reported the Altus Gang's involvement in tax credit fraud and the Colorado land scam. Now we have uncovered a new fraud that spewed from that scheme machine, the likes of "Wild Mary Sudik" when she blew in on March 26, 1930, near what is now I240 and S. Bryant in OKC. Wild Mary was shooting forth joints of pipe like toothpicks in the air while gushing forth 200 million cubic feet of gas and 20,000 barrels of oil a day. Yet Wild Mary would never produce, even at today's price of $70 per barrel, as much as this scheme had the potential.

What is a fake or artificial loan? The same as any other loan except there is an understanding between the bank and borrower that the bank keeps the money. The borrower only gets their copy of the loan documents. So what is the purpose? The borrower will have no debt. The bank will have no money at risk, and this doesn't change the bottom line or alter the banks financial condition. And, as we have now learned the so called oversight agencies never even noticed! What we don't know is if that was out of sheer negligence or for these secret investment opportunities? My hunch is both!

Here's the deal: fake loan documents are for cheating the innocent and unwitting while the bank and borrower divide the booty. A lot of booty!! This could be about $420 million in booty!

Example: A shady company with bad credit wants to bid on something like a government or construction contract that requires the bidders to have proof of financing.

Example 2: Oklahoma's own tax credit fraud scheme. We already knew the Altus Gang used insider fake loans to file two false claims for $221 million and $200 million. For that they received $126 million in tax credits.

What this new evidence shows is this fake loan business was far bigger than we ever realized. So who where the other users? That is going to take a little work, which should be handled by state officials. But, folks those dogs just won't hunt for the coyotes in Okie land. They run with the pack.

How do we know this? That is the good part. It is so easy to see, if you know where to look? There is more details on the website. Basically, you simply go to the and search for First State Bank Altus quarterly Call Reports for December 2005. Under Assets and Liabilities you go down and find Unused loan commitment. There you will see the number $650 million

As to why the state banking department and FDIC did not catch this? Why don't you just give them a call and ask them? Let me know their reply? Be warned, they all seem to be right touchy about this subject.

Copyright 2007 - 2023   See disclosures   Email: