Suspicious BOK Financial Corp (BOKF), tax credit and tax avoidance activities.
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Index
Section Topics
A Cover letter
B Unearned gains, BOK and insiders.
B.1 BOK Financial Corp - Unreported Income and Tax Years
B.2 BOK Financial Corp Insiders
B.3 Robert G Heard - Cimarron Business Capital Company
1 How the fraud works
1.1 BOKs list of investments
1.2 BOK claimed venture capital investments for ineligible for businesses
1.3 Additional evidence
2 Source of evidence 2006  2009
2.1 Oklahoma Tax Commission auditors questioning claim ignored
2.2 Fraudulent financial transactions
2.3 Failure to report income to avoid paying federal taxes
3 Source of evidence (partial) 20012005, 2010. Potentially $369 million more
3.1 Partial evidence for 2001 thru 2005
3.2 Most complete evidence January 2010
4 Tax credit programs operated in secrecy, to prevent discovery
4.1 First, a quasi-state agency
4.2 Second, OCIB was assigned sole authority
4.3 Third, Heard the president outsources OCIB to self
4.4 Heard authorizes himself $3.4 million and BOK $91 million in tax credits
5 Involved parties
5.1 Caution over confusion
6 References

Evidence suggests BOK Financial, BOKF: engaged in illegal tax credit and avoidance activities. (cont)

Unearned gains, BOK and insiders.

BOK Financial Corp - Unreported Income and Tax Years
     Totals
2006   $17,784,405
2007   $35,151,614
2008   $19,449,048
  Total BOK losses $72,385,067



BOK Financial Corp Insiders
 Amount insiders
paid BOK
Amount tax credits
insiders received
Total insiders
paid
Total insiders
received
George KaiserChairman of Board   
2006$4,100,000$19,523,810  
2007$9,234,100$43,971,905  
2008$5,070,000$24,142,857  
 George KaiserTotal$18,404,100$87,638,572
 
Stan LybargerPresident and CEO   
2006$117,500$559,524  
2007$110,000$523,810  
2008$100,000$476,190  
 Stan LybargerTotal $327,500$1,559,524
 
2006Burns HargisBoard member$50,000$238,095
2006Mark FunkeExecutive officer$20,000$95,238
2006Gregory AllenBoard member$440,000$2,095,238
 
 All insidersTotal$19,241,600$91,626,667



Robert G Heard - Cimarron Business Capital Company
  PaidReceived Total paidTotal received
Robert G Heard Manager & Investor   
2006$0$1,727,179  
2007$0$861,329  
2008$0$987,985  
 Robert G HeardTotal $0$3,576,493

Notes: View


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