$5 billion during 4 years - the estimated size of political corruption, uncovered. Details follow!
After four years those responsible realized the mistakes that led to exposing evidence. Two of those responsiible for most mistakes would be changed with minor crimes and sent to prison.
$5 billion was the size of Oklahoma's annual budget during this period. This means roughly 25% of Oklahoma's state tax revenue was stolen by corrupt politicians.
Uncovered $3 billion minimum hidden (a) tax credits and tax refunds; for 15 of Oklahoma's 63 tax credit and three tax refund types (13).
Plus, $2.12 billion 2009 Federal Stimulus Funds and Oklahoma's Rainy Day Fund diverted from the intended purpose to cover-up. Part of the above. $2.12 billion was all there was to steal. View
Ongoing digging have uncovered, some 16,000 hidden uses of $5 Billion tax revenue (mostly) Oklahoman's was stolen:
- During one four-year, 2006-2009.
- Involved only fifteen* of Oklahoma's 63 different tax credit programs and three tax refunds (some still in use).
- Three of the 15 tax credit programs are for Certified Capital Companys (CAPCOs) or shared investment funds.
- 25 CAPCOs (Certified Capital Company's) shared investment funds. Certified is a misnomer in most cases.
- 170 investors.
- 640 CAPCO investment claims.
- 516 Investment Targets.
- Multiple uses of the same tax credits, by multiple parties, over multipe years, some still unaccounted for.
* Depending on one's view, evidence uncovered shows the serious money involved seven tax credits and three tax refunds, with smaller amounts in eight other tax credits.
(a) Hidden: undocumented, no records, and unreported until after 2009 cover-up, and then misreported. Multiple uses of the same counterfeit tax credits making it impossible to know the totals.
Re: The investment side is essentially one investor for each tax credit user, except for the five tax credit types structured for shared private investment funds. Here are numbers uncovered for five tax credit types structured for shared private investment funds.
500 investment claims totaling $2.5 billion with $625 million tax credits by 25 funds claiming 125 investors. Re: five tax credit types (16) structured for shared investment funds.
Note: Four of these five tax credit types (16) fell under the Capital Formation Incentive Act and were involved in swapping for gross production tax refunds. The fifth type Venture Capital 68 2357.7, is used to avoid/evade paying insurance premium taxes View. Yet to be uncovered tax credits used to avoid/evade paying bank privilege taxes.
|2009 Gross Production tax refund payoff.||View|
|A link to Oklahoma's falsely reported tax credits can be found at corrupted OpenBooks or Datagov.||View|
|A complete list of Oklahoma's falsely reported tax credits can be found at corrupted OpenBooks or Datagov found here.||View|
|15 of 63 tax credits missing or misreported.||View|
|Tax credit types.||View|
|Largest tax credit users.||View|
|Largest tax credit investors.||View|
|Tax Credits Venture Capital Investors.||View|