Evidence of suspected fraudulent activities - BOK and Cimarron.
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SectionTopics
1 Cover letter
2 Overview
3 Fraudulent activities
4 How this occurred
5 Critical evidence tax commission emails
6 Evidence - examination and results
7 Ongoing tax credit investigation and achievements
8 Summary

SEC letter - Evidence of suspected fraudulent tax claims involving BOK and Cimarron Business Capital (cont)

Evidence of suspected fraudulent activities BOK Financial Corp (BOKF)

An examination of 2006 thru 2009 tax credit claims and SEC filings reveal

BOK misrepresented interest bearing, secured loans as investments, to obtain $91 million in tax credits; while avoiding the risks inherent with investments, insuring the bank received interest on the funds, and leaving no fingerprints for auditors and examiners.

The tax credits were then sold to key officers and board members for $19 million. BOK treated the $19 million as revenue, disregarding the $72 million in unearned profit passed on to insiders.

See list of investments BOK represented as purchasing an ownership interest. Including the Roman Catholic Diocese of Tulsa, Oklahoma State Fair, Indian Tribal Governments, YMCA's, various non-profits and even private individuals. View

Notes: View


How this occurred << Back     Next >> Critical evidence tax commission email


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