Like the 3,200 other pages of evidence uncovered and descriptions of crimes on this site, this web page is only one part of a massive multi-state entanglement of government corruption and cover-up. See size
Evidence was uncovered in parts over years, and not in the same order as the crimes occurred or the evidence was created. Statements were made based on what was known at the time.
Dates are approximate because government filings and reports vary in some cases up to months if not This is part of cover up. One example is Oklahoma's Openbooks, which started out late with only a fraction of what was required to be added each year. Plus, the data was littered with data entry and spelling errors, meaning you have to go through one entry at a time. This amount to more than 17,000 entries in 2017.
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June 7, 2010
SEC letter - How BOK and Cimarron Business Capital obtained unearned tax credits (cont)
How this occurred - difficult to imagine, but documented!
Oklahoma's "Venture Capital" tax credit program was initially created to operate, free of budgetary limitations, void of accountability, and all information to be held in strictest confidence. An Oklahoma public trust, Oklahoma Capital Investment Board, OCIB, was created to provide independent oversight for this tax credit program. To hide as far off the radar as possible, OCIB was funded using a form of off-balance-sheet financing to further escape oversight and scrutiny.
In 2000, OCIB outsourced oversight to a private individual Robert G. Heard; giving Heard sole discretionary authority to authorize, which funds and investments qualified for tax credits; Heard, operating in strictest confidence, and void of scrutiny; qualified two funds:
4.1.1 BOK subsidiary Cottonwood Valley Ventures, a BOK subsidiary; addressed in more detail below. See "Evidence - examination and results."
4.1.2 Heard's own fund, Cimarron Business Capital, where Heard received $3.4 million or 99% of the tax credits he authorized for his own personal investments, for 2006-2008. Heard's 2009 claim has not been obtained.
An complete examination of Cimarron Business Capital', a private entity, purported investments is pending, awaiting additional information.
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