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Section Topics
 Cover Letter
1.1What is involved
1.2How much is involved
1.3Who is involved
2Two tax credit claims filed for 2006 are explained below.
2.1.Altus Venture, Affinity Ventures, Quartz Mountain Aerospace, OK Industrial Venture
2.3.Oak Hills Capital
3Oklahoma Tax Commission negligence and cover-up
3.1New evidence uncovered since the original letter.
3.2Copies of Oklahoma Tax Commission emails obtained
4Colorado land scam and tax credit fraud connection
4.1The scam
4.2What Happened?
4.2.1Place liens on the property
4.2.2Deplete the funds to pay off loans bank account Kickbacks and wire transfer fraud
5Coming unwound
5.1Colorado partners seize Altus Groups financial records
6Other noteworthy points related to tax credits include

Updated report to appropriate authorities - evidence of tax credit and bank frauds. Dated 07/10/2010 (cont)

1. Overview

1.1 What is involved

Oklahoma's secretly operated tax credit programs. At the same time, corruption is not limited to the five (16) of Oklahoma's 63 different tax credit programs initially discussed here. These five reviewed first are structured for shared private investment funds. As such, these operate differently and have more stringent reporting requirements, and created more evidence.

Multiple uses of the same Oklahoma tax credits by different parties. Including counterfeit tax credits.

A variety of financial schemes are used in filling false claims, to inflated amounts claimed to have been invested, to receive free tax credits. While some were lying about the amounts invested, some claimed federally backed loans as opposed to investor-backed loans as required by law. Others used different shell games to like claiming to have invested in non-qualified entities like the Tulsa Roman Catholic Dioceses, YMCA, University of Tulsa, other non-profits, and private parties. While those may be good cause those are not high-risk venture Capital business investments as seen in Silicon Valley and require by law.

The fraud (corruption) is protected by operating the programs in secrecy, off the books, no budget limitations, no oversight, and no accountability. The tax commission is structured where only one official, had access to the necessary information to determine what is occurring.

The fraud discussed here in this letter involves the following seen here.

    A. The Venture Capital Tax Credit program
    1. 68 O.S. § 2357.7 Venture Capital Investment (VC)
    B. Four tax credit programs established by "Oklahoma's Capital Formation Incentive Act."
    1. 68 O.S. § 2357.62 Small Business Capital (SBC) 20%
    2. 68 O.S. § 2357.63 Small Business Venture (In-conjunction) (SBV) 20%
    3. 68 O.S. § 2357.73 Rural Small Business Capital (RSBC) 30%
    4. 68 O.S. § 2357.74 Rural Small Business Venture (In-conjunction) (RSBV) 30%

This report is initially limited to tax credit cases under these programs and the land scam involving the same parties involved in one case, Altus Venture.

1.2.1 How much and how many are involved. Size Oklahoma Tax Commission $5 Billion Hidden Tax Revenue Theft View

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