$100 Million Oklahoma Tax $$'s Wasted?

[Friendly Bear]

A local radio station was carrying a news story yesterday that State Representative Mike Reynolds from Oklahoma City claims that at least $100,000,000 in state tax credits intended to reward state employers for adding new employees to start-up companies via a Capital Investment Board have been siphoned off on in a loan scam to reward out-of-state companies.

The brief news commentary also says that virtually NO Oklahoma jobs were created with the $100 million in Oklahoma Tax dollars.  The abuse reportedly goes all the way back to the early days of the program in 1992, and continued until recently.

There has been no reference in the state-wide print media, the Lorton's World or the Gaylord's World, about this news report.

Wouldn't you say that $100,000,000 in wasted tax dollars does appear rather news worthy?

Unless maybe, just maybe, some of their connected cronies were reaching into the $100 million taxpayer-financed Cookie Jar.......

[:O]

[joiei]

What radio station, what reporter, give us some hard facts, not just hearsay.

[waterboy]

Maybe because they have higher standards of reporting? Standards that include creditable sources and details?

[Wrinkle]

Listen to it yourself.....and weep.

Rep Reynolds' starts around 27:30

[Conan71]

I'd like to see a written transcript or report from Mike Reynolds.  It's a little confusing trying to pay attention and listen to all the points he's making on it.  Point I've taken from it is there does seem to be some corruption and it sounds like another Gene Stipe operation.  [B)]

[Wrinkle]

>Bump<

This one needs to stay on top awhile until we get some answers.

[Conan71]

Mike Reynolds seems to be a pretty good watchdog.  I heard him on KTOK today talking about possibly getting a vote on "dereliction of duty" on McMahan so we don't have to pay that rat while he's under investigation.  Apparently the AG said there's no mechanism to suspend salary along with duties.  Must've been a Stipe law in the first place.

[cannon_fodder]

If this is accurate, I'll call for heads.  As of yet I have one man on an MP3 rambling about it.  I need documents, I need ledgers, I need people who were involved.

Corruption is the worst for of theft.  Abuse of power should *never* be tolerated at any level of government.  Especially when they are fiduciaries of our tax dollars.