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The Meadowlands building project went according to plan, but politicians couldn't resist continually refinancing the bonds (read taxpayers debt), siphoning its revenues into the state budget, and using the good credit rating of the New Jersey Sports and Exposition “Authority” to borrow for other, unsuccessful building schemes. Today, the “authority” that runs the Meadowlands is in hock for $830 million, which it can't pay back.

The IRS has targeted municipal and state tax-exempt “government authorities” as the locus classicus for tax evasion, government fraud, and money laundering.

POSSIBLE CRIMES: Colluding, conspiracy to steal; government fraud; theft of public property, filing false official records (a felony), money laundering, computer trespass, US Postal and electronic fraud, tax evasion (stolen money is taxable),

HERE'S HOW THEY PULL IT OFF
(1) Insider backroom deals
(2) Collusion to siphon off and kickback government funds.
(3) Siphoning off authority funds into falsified budget items labeled “overtime.”
(4) Computer entries falsely list “overtime” that are later deleted.
(5) Putting phantom employees on the payroll.
(6) Authority insiders' get kickbacks from vendors,
(7) Wire-transfers to numbered offshore accounts.
(8) Authority insiders take hidden equity positions in vendor companies---then inflate no-bid contracts (later paid off with fraudulent bank loans).
(9) Accounting fraud.
(10) Phony line items like "building costs, administration, legal fees, upkeep, " and the like.
(11) (a) loans, (b) sale, (c) exchange, (d) leasing of govt property to insiders.
(12) Executive pay not properly disclosed to the IRS (stolen money is taxable)
(13) Using two sets of books.

Here's how NJ pols crooked the Atlantic City Convention and Visitors "Authority."

$102 for an employee to rent golf clubs in Florida.
$494 for a Washington, DC-based employee to attend authority holiday parties.
$445 for the executive director to stay at the Hay-Adams Hotel in Washington which included $30 for liquor and a $27 breakfast.
$21,055 for an corporate tent and limousine minibus service to the Meadowlands to watch the Giants. Billed as a chance to show off for prospective clients.
$11,429 for a suite and transportation to see the Giants open their season in Dallas.
$400 for two bottles of wine at an Atlantic City restaurant.
$118 for a double tip (didn’t realize gratuity was included).
$165 for a meal in San Diego (no itemized receipt was made available).

REPORT HERE:
IRS TOLL-FREE 1-800-829-0433----you may remain anonymous.
FBI TIP PAGE http://tips.fbi.gov/ (you may remain anonymous)