SEC letter - Evidence of suspected fraudulent tax claims involving BOK and Cimarron Business Capital (cont)
The recent surfacing of an Oklahoma Tax Commission auditor's report questioning BOK tax credit claims revealed evidence suggesting long standing fraud, benefiting BOK insiders. in the form of state income tax credits. More complete evidence for 2006-2009 clearly suggests $91 million in fraud. Partial evidence for additional years suggests potentially more than $400 million.
BOK misrepresented, and failed to fully, and properly disclose in SEC filings:
BOK SEC filings available and examined for years 2001 - 2009 View
BOK state income tax credit claims available and examined for years 2006 thru 2009 View
The following conclusions will be restricted to the 2006 thru 2009 period with the most complete evidence.
Assuming the 2006 thru 2009 model was used, the following would apply: