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Entries in Colorado Legislative Audit Committee (1)

Monday
Jul142014

Senator Steve King and Colorado Mesa University $144 Million BOND game!

VetTheGov has discovered through recent CORA request that Senator Steve King and now stained candidate for Mesa County Sheriff was offered security positions at Colorado Mesa University (CMU) while not in legislative session in Denver. As VetTheGov slowly sifts through all these documents an interesting theme came to light called BONDS.

VetTheGov often follows the money trail and usually ends up being the tell tail sign of improprieties. So as usual VetTheGov started down the money trail and it exposes the CMU Bond game. Surely CMU students will want to know why their tuition rates rise each and every year so rapidly. Well look no further as there are Investors that need paid. CMU is just another one of those shell games that give students a certificate by paying thousands of dollars and in return CMU gets to take care of their Bond investment pool in annual tax haven returns.

Senator Steve King during his terms from 2012 to present has served on the Legislative Audit Committee in which Senator King has oversight on financial matters and has served as Chair and Vice-Chair during this tenure. This committee also performs annual audits for all of Colorado's higher education and investment funds that get used for Bond placements. 

Well that brings us back to CMU and Senator Steve "Audit" King. VetTheGov found State Audits from Senator King's legislative Audit committee reports and these same audits were found attached to CMU Bond placements. The most recent Bond placement is for an additional $39.1 Million. The scary part is that CMU has over $144.4 Million in outstanding Bond placements since 2009. 

It's no wonder Senator King never disclosed his CMU relationship as it again proves the massive Conflict of Interest between a State Senator with access to insider Audits that allow ratings companies such as Moody's etc., to rate the Millions in CMU Bond placements to entice investors which received an Aa2 rating thanks to the audit. Investors never need to worry because if CMU defaults the State Intercept Bailout Program gets enacted.

Hopefully you are just getting a preview of the many insider scams in a small college town near you as they appear to educate on the outside but on the inside there is money to be made at any cost, even illegally hiring a local State Senator behind the scenes! Wouldn't it be nice to know who the Investors are in this inner web of deception? 

Stay tuned as VetTheGov continues to explore the enriching part of higher education! Thanks for reading and would enjoy hearing your comments.