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Multiple Forms of Proof of Crimes and Cover-up
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This page applies to First State Bank Altus OK subsidiaries and affiliates Altus Bank Group.

Other claims

  • OTC emails revealed many of the CFIA tax credit investments prematurely failed for lack of money. As short as 6 months, 14 months, and 17 months. These should have been recaptured. Instead they were given gave a free pass. The free pass is done by OTC issuing a "Confidential Tax Letter Ruling" (CTLR) for a "Liquidity Event." View
  • Investments claimed, in PO boxes, Shell LLCs, seven separate investments with same address - one ministorage unit just across the Oklahoma County line in Canadian County to justify 30% Rural Small Business credits.
Note: Investments in Oklahoma and Tulsa County's are only allowed 20% Small Business credits.

Evidence contradicting undocumented economic development tax credit investment claims.

Forms of evidence uncovered in Oklahoma crimes. The below is a list of evidence uncovered and parts apply in different mixes in different cases. In case of the Altus bank and it multiple case all of the below apply. The point is to demonstrate the extend of back turning.

Five Tax Credits Structure for CAPCOs or shared investment funds.

Yellow and Blue: Capital Formation Incentive Act (CFIA) Tax Credits 68 2357.62, .63, .73, .74

Yellow: Altus bank group specific

Green: Venture Capital Tax Credits 68 2357.7: Bank of Oklahoma and Cimarron Business Capital



Multiple Forms of Proof of Crimes Covered-up
  • Oklahoma Tax Commission (OTC) emails, and Confidential Tax Letter Rulings.
  • View
  • Corrupted DataGov (OpenBooks).
  • View
  • CAPCO Report 2006 thru 2009 Revised Aug 2009
  • View
  • Three CAPCO's emails advertising tax credits for sale, spelling how the scheme (bait and switch) works
  • View
  • FDIC Bank Reports.
  • View
  • Altus Banks FDIC Bank Reports 2004 to bank closed July 2009.
  • View Blank
  • FSB Bancorp the Bank Holding Company and Federal Reserve Subsidiaries Assets Reports 2004 to bank closed July 2009.
  • View Blank
  • $200 million fraudulent investment claim and $60 million counterfeit tax credits.
  • View
  • FSB Altus OK subsidiary Altus Venture Fraudulent 2006 Investment claims. Found in OTC emails Apr 2010.
  • View
  • Documents used processing Gross production tax refunds. Found in OTC emails
  • View
  • FSB Altus OK subsidiary Altus Venture Fraudulent 2006 Investment claims. Found in OTC emails Apr 2010.
  • View
  • Altus Bank Group's/Altus Venture's financial records were confiscated by victims in Colorado Aug 2007. Exposing 2006 Fraudulent Oklahoma Tax Credit Investment Claims and cover-up.
  • View
  • SEC Form Ds and SEC Stock Filings
  • View
  • OK Secretary of State's Registered Business Entities
  • View
  • Letters of testimony former president of investment scam ignored
  • Letter of testimony to state house committee May 2, 2010, and blown-off.
  • View
  • Letter to editor Altus Times May 11, 2010, after House Committee blew-off.
  • View
    Tax Expenditure Report. Projected estimates less than 10% of uncovered usage.
    2005-2006 Tax Expenditure ReportView
    2007-2008 Tax Expenditure ReportView
    2009-2010 Tax Expenditure ReportView

    Simple arithmetic and common sense.

    • How could a bank with $120 million in assets and already at loan capacity issue $643 million in loans to shell LLCs with no assets? Shell LLCs claimed the loans were invested to justify taking 20% and 30% tax credits.
    • How could a small business (100) employees (salaries $30K range) and owned four airplanes worth less than $1 million total, burn thru $221 million (Oct 2006) in 14 months (Jan 2008)? Then pulled five more scams to keep open until Nov 2008 elections.
    • What SEC accredited/sophisticated investors would quietly standby loosing two years of interest on $220 million? Re: 2006 tax credits swapped for gross production tax refunds but not until Jun 2009 to cash in.

    Note: Tax Expenditure Report. A report that includes the Oklahoma Tax Commission's estimate of the amount of state revenue that would have been collected but for the existence of each exclusion, deduction, credit, exemption, deferral, or other preferential tax treatment allowed by law for the previous fiscal year

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