OKLAHOMA (June 10, 2008) - Oklahoma's "audit immune fraud", skimming $100's millions in tax Revenue.

Understanding how a fraud of this size continues unchecked.

No one knows! - No one sees! - No one acts! - Some are enriched!

Key elements:

• 1. Use tax credits to divert revenue before it reaches the state financial system. Ref. 2
• This leaves no accountability.
• This means no audits.
• 2. Structure the program to operate with total autonomy. Ref. 2.
• 3. Legislate the entire program remain totally hidden from and all. Ref. 1

What law is this? This would be the Capital Formation Incentive Act, Senate Bill 1577, 2006. Ref. 3!

Why was this law allowed? Campaign donations! Ref. 2

How is the scheme protected? State officials are free to participate! Reaping huge unearned sums! Ref. 2

Examples, specifics and verification can be found at http://prowlingowl.com (a companion subset of http://ProwlingOwl.com) created to focus on exposing of Oklahoma's massive tax credit abuses

Note: We will be sending out additional info. Email nite@prowlingowl.com if you do not wish to receive further information

References:
1. Oklahoma's tax loophole for the wealthy
2. Suspicious campaign contributions? Tax credit loophole remains open!
3. Download a copy of the Capital Formation Incentive Act

Contact Email: nite@prowlingowl.com  or   nite@prowlingowl.com