Office of the Public Auditor- Special interest tax credits

Although a short report from Kuam, GEDCA still abusing taxpayer money. Remember the lost $800,000 Max Havoc: Curse of The Dragon movie. November 27, 2007, Audit found that the Guam Economic Development and Commerce Authority allowed related special interest groups to make key decisions, and merely processed tax credits as a perfunctory duty and furthermore didn't report on the overall program benefits, costs and the impact to government revenues.

Citing examples of poor recordkeeping when it came to tax credit programs, the OPA referenced the Guam Raceway Park, the Dededo Soccer Stadium and the Paseo Stadium. In some instances it was impossible to tally just how much in lost revenue to the government. The audit also revealed a potential breach of standards of conduct for public officers and employees.

Summary http://www.guamopa.org/docs/OPA0715ES.pdf

Full Report http://www.guamopa.org/docs/OPA0715.pdf

Max Havoc http://en.wikipedia.org/wiki/Max_Havoc:_Curse_of_the_Dragon

Category:

News & Politics

Tags:

• Guam
• Public
• Auditor
• GEDCA
• Raceway
• park
• Dededo
• Paseo
• Soccer
• Stadium

[walthem]

A scheduling conference was held today (12/29/09) in the Superior Court as the Guam Economic Development Authority continues efforts to recover an $800,000 loan guarantee from "Max Havoc: Curse of the Dragon" producer John Laing. The film producer filed a similar suit in California trying to get out of paying the guarantee he was given to produce the big screen flop.

A pre-trial conference is scheduled for June 15 while jury selection and trial are slated to begin on June 28, 2010.

[walthem]

You can blame MAX HAVOC director Albert Pyun and MAX HAVOC producer John Laing for stealing from Guam.

The whole film was a scam