$370,000 in questionable campaign funds
Or, as much as 75% of Rep. Kevin Calvey's total 2006 campaign donations, came mostly from what appears to be those active in the investment community, while the other 3 major candidates Fallin, Hunter and Cornett each received only 7%, 5% and 6% respectively from the community of investors in their runs for the Oklahoma District 5 Congressional seat Most of these questionable donations came at the time Rep. Kevin Calvey, chairman House Revenue Taxation Committee, was involved in crafting legislation introduced, by others, to close a "so called loophole" being used to divert huge sums of future tax revenue to unknown private entities in the investment community. A loophole we now learn was never closed, resulting in significant increases in tax credit abuses. A loophole only available to certain venture capital companies and investors. Calvey, a long shot, was needing major campaign funding to have any hope of over taking the more popular candidates. How better to get the ear of Calvey than those making millions, to keep the loophole open, than donating nearly $400,000, by far, the largest donations to Calvey's campaign?
A close examination of the legislation, something lawmakers failed to even read, reveals the loophole was never closed. Lawmakers claimed they had no time to even read the bill. The bill originating in the Senate was held by Calvey's committee until the last day of the session when it suddenly reappeared with a 50 plus page amendment, as only one of a large stack of last minute bills that are never read or discussed.
Obviously the public, intentionally denied access to information about the program, is left helpless to learn what is happening. Mistakes do happen and in September 2007 a private letter from Captial West to wealthy investors found its way to the media revealing Capital was offering investors an opportunity to invest in a new Foxborough fund promising potential investors $2 tax credits for every $1 invested. The kind of promise that a large well established investment firm, that if it couldn't deliver on the promise would most certainly face lawsuits, an SEC investigation, and lost clients for promising something it could not deliver. See the letter.
NOTE: The issue of a state law having been corrupted to facilitate fraud in not within the jurisdiction of the Federal Security and Exchange Commission or the Oklahoma state Securities Department, as state officials tried to pass off in an effort to whitewash this letter. Nor do they have the resources. SEC and state Securities only serve the purpose of insuring those promoting investments are providing full disclosure, have done due diligence and not misrepresenting the investments.
A detailed analysis of Kevin Calvey's Top 150 Donations/Contributors (found at campaignmoney.com) for his 2006 US Congressional campaign reveals some very unusual donation patterns.
Below is a graph showing campaign contributions received by four candidates from those involved in both sides of the investment business and others outside Oklahoma
On still closer examination -
A closer examination of the donation patterns of donors, especially outside Mr. Calvey's district show significant difference from their traditional donating patterns, including but not limited to.
The contributions from the donors in question, many out of district and state, were a significant variation from their typical contribution patterns. In most case donating more to Mr. Calvey's campaign than their own representatives. Or,in some cases donating more to Calvey than ever to an individual candidate. Typically these donors would give a combined group contributions, e.g., to a PAC.
Other notable variations in donor patterns include, but aren't limited to:
|The worst case!|
|The biggest known abuser!|
|Defendants in financial wrong doing lawsuits!
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