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The black hole of corruption! A law created to strip the public of its constitutional protection.
The two most important aspects of tax credit fraud that few have yet to acknowledge are the secrecy and the critical role of, Tony Mastin, current Administrator, of the Oklahoma Tax Commission. There is no complicated financial shell game as those behind the fraud have claimed in order to disguise, mislead and intimidate the public. To borrow from a popular campaign slogan, "It is the secrecy, stupid!"
Under the guidance of special interest cronies, legislative actions morphed one function of OTC into an unconstitutionally unique quasi state agency with absolute independence, and unaccountable control; and mandated to operate in total secrecy. This allowed OTC to operate a secret tax revenue skimming operation. OTC, was the perfect spot for a skimming fraud operation; where incoming revenue is received, and can be skimmed off before made a matter of record.
To create the skimming entity was as simple as a special interest groups persuading Oklahoma's governor and lawmakers to enact a law that gave OTC:
- the absolute power of a back room Mafia boss skimming money off the top of 1920s sin establishments, making up their own rules about which cronies will share how much;
- absolute discretionary authority to establish and enforce the rules for what those using the program will require to qualify and report;
- sole discretion to decide if the claims and reports are accepted at face value. The only requirement imposed on OTC is to keep all information about the identities and amount of tax credits taken in secrecy. So secret that no other state officials or lawmaker is allowed access.
In effect the same as a dictator. And, diametrically opposed to everything a constitutional democracy embodies. This alone, without any knowledge or evidence of wrong should be considered a criminal violation of our constitution. This not only invites, this begs for corruption.
That Mafia boss power was placed in the hands of Tony Mastin, Director of Tax Policy and Research Division, from the get-go. Mastin retained that Mafia boss power after he was later promoted to Administrator, of the tax commission. Or, promoted because of the power? Mafia boss power giving Mastin control over the door to the state treasury, makes Mastin one of the most power players in the state. Someone elected officials fear, knowing those receiving unearned gifts of $100 million in tax credits are also some of the state's biggest campaign donors. Protecting Mastin in that position is critical. Making Mastin the untouchable.
That is the setting. Now the results.
More than $500s Million taken in tax credits by:
- using false claims and fake loans;
- receiving tax credits for money never invested or under invested;
- nonexistent businesses;
- failed ventures.
- jobs costing the pubic more than $1 million per job?
Now where are the jobs? Where are those $500 million worth of jobs?
The following CAPCOs or investment funds claiming tax credits amounting to what evidence suggests is over $450 Millon of the more than $500 Million, for investing approximately $1.5 Billion. All of these have been found to have multiple reasons they did not qualify and/or contained such suspicious qualifications it demands thorough investigations. Issues involved claiming $642 Million in fake loans as money invested. Amounts that any knowledgeable person should have immediately suspected and the most cursory investigations would have exposed the loans were fake. Several Scissortail investments including one claim of investing $31.5 Million in the phantom Ardmore MG plant that never materialized, $21.8 Million in a Shawnee PO Box that leads to nothing but a corporate jet, one of the Foxborough principal uses as a personal luxury. Oak Hills investing $75 million in 7 non existing entities all sharing one mini-storage unit in Yukon. Ad nauseam.
Next we will be showing how Mastin has been orchestrating the cover up using false and misleading tax credits reports and Open Books.
Now to the bad news. The public is going to have to rise up and stop this fraud. With the exception of Representative Mike Reynolds, the state's entire body of elected officials and their appointed toadies have sold out. Some for direct profits and others so desperate to hold on to their precious seats of pay for play and prestige, they have shriveled to nothing more than cowards cowering in the corner of "go along. to get along".