Prosecutors in Tulsa say former Oklahoma oil distributor Jack Jim Clark stole $10 million to live the life of the “rich and famous” and will pay the price with a 5-year prison sentence.
Clark, of Sapulpa and Oklahoma City was sentenced in Tulsa U.S. District Court after pleading guilty last summer to one count of False Claims Against the U.S.—Fuel Excise Tax Refunds and one count of mail fraud.
The 44-year old, who had homes in Oklahoma City and Sapulpa filed 21 separate fraudulent claims for refunds of gasoline excise tax paid on gasoline and later sold to tax exempt organizations. The organizations included school districts and universities from July 6, 2010 through Feb. 27, 2012 and the claims totaled $10,042,098.42.
Under the plea agreement, Clark agreed to be held accountable for the entire $10 million loss as if he had pleaded guilty to all charges.
U.S. Attorney R. Trent Shores said Clark would prepare on a nearly monthly basis false and fraudulent claims that contained what he called “wildly inflated” amounts of gasoline sold to tax exempt customers. Clark claimed to have sold 56,780,936 gallons of gasoline to tax exempt customers when in fact it was only 1,035,332 gallons. Most of the listed customers, according to the U.S. attorney had never purchased gasoline from Clark’s company. He said 98% of the claims were phony.
As for the $10 million, it was used to fuel an extravagant life style including construction of an 11,513 square foot home in 2012 at 11600 Mill Hollow Court in Oklahoma City. In 2012, the home was valued at $4 million but now under the plea deal, it has been forfeited to the U.S. to be sold with proceeds to be paid to the IRS.
Once Clark serves his time in federal prison, he’ll still face 5 years of supervised release.