The Tulsa School Bond Laundering Scandal

corruptionchronicle:

  Many Oklahoma school districts were found to be collecting far more money in property tax than their operations required. That ‘slush fund’ was secretly invested in money markets. As for where that interest income was finally accrued, was even more secret.

  Ironically, it was the IRS which blew the lid on this scheme, by insisting that taxes needed to be paid on this interest income. 

Keep reading