The Fraud

For the first time known in the history of US a state government is hiding the use of large sums of public money.

Are state officials profiting?

The obvious question is, why wouldn't state officials be profiting? It is not illegal!

• State officials created a program that uses tax dollars to pays certain unidentified investors a 200 percent for doing nothing!
• State officials created the program so that would "not be illegal" for them to participate as investors!
• State officials created the program to operate with completed autonomy avoiding any possible conflict of interest.
• State officials created a law to insure everything about the program including their involvement would be kept totally secrecy!

State lawmakers voted to make this law - without one dissenting vote! And, at best, without bothering to read the law! A highly irresponsible and negligent practice, all too common in the Oklahoma legislator.

This program is soaking Oklahoma taxpayers $100's millions in lost tax revenue! So far at least $850 million, and going strong. This program is the primary reason for Oklahoma's current tax revenue shortfalls.

Overview -- Giving the unidentified their own key to the state vault!

A program available to a select few unidentified individuals and entities, kept hidden from the public. The program uses tax credits, which are allowed to be sold, to refund the entire cost of these individuals' investments in unidentified new ventures. Plus it pays these same people an additional 100% profit. E.g., for a $50 million investment, these so called investors receive $100 million in tax revenue. They turn to cash. All without lifting a finger, investing one dime and the profits in their pockets before they have to put up their investment.

State officials claim what is occuring is "not illegal." By definition "not illegal" means there is no law against what is occuring. The law requires hiding the identities of those benefiting from public money, and in so doing hiding any involvement by state official. Rendering useless the requirement that state officials report business interest allowing the public to see invovlement in any business benefiting from the state.

Read more about "The Cover Up"       Read more about The Crooked Law

A law made under a cloud of suspicion.    Read more about "Suspicious Donations"

New information has leaked showing the abuses have taken at least another $600 million since the second failed attempt to close the loophole. Bringing the total to $850 million plus. Read more about "Tax Credit Fraud Costs"

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