About this fraud flawed law.  View

Guide to flaws in the law.  View

Altus Venture $126 million View

Scissortail $90 million  View

Foxborough $300 million  View

About venture capital funding.

Venture capital (also known as VC or Venture) is a type of private equity capital typically provided to early-stage, high-potential, growth companies where the rewards are years out and carry a high risk. Venture capital is a special kind of funding to create a foundation for building the businesses that will replace today's diminishing industry and jobs. Oklahoma's venture tax credit program was intended to incentivize that venture capital funding needed by rewarding investors tax credits worth 20 to 30% of their at risk investment. More on venture capital

OTC Corruption Central

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New tax credit fraud evidence implicates high level OTC and other state officials!

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How OTC's involvement in tax credit fraud was tipped by OTC ignoring the conspicuously obvious.
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10 more new cases of OTC scantioned tax credit abuse exposed, raising the total to at least 12. Read more

Two cases of tax credit abuse below costing taxpayers $290 million suspiciously got past the Oklahoma Tax Commission.

Previously undisclosed documents revealed the Oklahoma Tax Commission has been concealing evidence it allowed at least two private groups, a group from Altus and Scissortail, to take $126 million and $27 million respectively in unearned tax credits by filing false claims and claims that failed to meet the programs most fundamental requirements. OTC was then able to conceal the claims to prevent discovery. -

Case 1. An Altus group having only invested $32 million in Quartz Mountain Aerospace, during 2005, then filed claims they invested $221 million in 2005 and another $200 million in 2006, and received $66 million and $60 million, respectively, in tax credits. Read more Case 2. Scissortail gets $5.40 in tax credits for each $1 invested. Scissortail filed a claim stating it had invested $90 million to qualify for $27 million in tax credits. Scissortail only invested $5 million at risk, while using an $85 million loan obtained by using the assets of the business they were investing in to secure the $85 million loan. Read more

• Took $56.7 million in excessive tax credits by misrepresenting amount invested.
• Helped write the tax credit bill after giving large donation.
• Company they own failed to pay employee withholdings.
• Defendants in a $25 million Colorado land scam accused of using mirrored bank accounts and kickbacks to defraud.
• Current defendants in two other lawsuits, and two other previous lawsuits.

Know the names of some middlemen operating the tax credit schemes. View more

Know the names of some using the tax credits to avoid paying state income taxes. View more

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But, who are the other middlemen? Who are the "so called investors" making the money from selling the tax credits that allow others to avoid paying state income taxes? Are these state officials? There is no law that says state officials cannot be investors. There is a law that prevents state officials from allowing the public to learn who the "so called investors" are. See the known schemes

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