MATT SCHULTZ’S LAW FIRM NAMED MATT SCHULTZ’S LAW FIRM NAMED

MATT SCHULTZ’S LAW FIRM NAMED
IN FILM TAX CREDIT AUDIT

Schultz’s law firm also served as “principal office” for companies now facing criminal charges of defrauding Iowa taxpayers.

FOR IMMEDIATE RELEASE
OCTOBER, 28, 2010

CONTACT: Sam Roecker, (515) 782-1951, sroecker@iowademocrats.org

DES MOINES – Iowa Secretary of State candidate Matt Schultz and his law firm are directly connected to individuals and companies currently facing criminal charges of defrauding the state of Iowa through the film tax credit program.

According to official documents filed with the state of Iowa, Schultz’s law firm served as the “principa l office” for Polynation Pictures, LLC and The Scientist, LLC. Both companies are currently facing criminal charges of fraudulent practices in the first degree and ongoing criminal conduct.

Schultz’s law firm is even named in Republican State Auditor David Vaudt’s latest audit of the film tax credit program. The audit cites a $10,000 “unqualified expenditure” for legal services provided by Schultz’s law firm in the fall of 2008 as part of “The Scientist” film project.

“Matt Schultz owes Iowa taxpayers an explanation on why his law firm is so deeply connected to companies accused of defrauding the state of Iowa,” Iowa Democratic Party Chairwoman Sue Dvorsky said. “Matt Schultz likes to say that we should ‘trust but verify,’ but unfortunately in this case he did too much trusting and not nearly enough verifying.”

Background information, timeline, and citations can be found below.

Timeline and Citations:

August 6, 2008: Articles of Organization are filed for Polynation Pictures, LLC (1)

On the Articles of Organization, the principal office of Polynation Pictures, LLC is listed as 535 West Broadway, Suite 200. (1) This is the location of Matt Schultz’s law practice. Fro m December 20, 2007 through March 30, 2010, this was the office address of Coats, Schultz, and Watson, LLP. (2) It is now the office address of Schultz and Watson LLP. (3)

The registered agent for Polynation Pictures LLC is Jeffrey A. Coats. (1) At the time Polynation Pictures, LLC was created, Coats was the law partner of Matt Schultz. (1, 2)

Wendy Weiner Runge signed the Articles of Organization as a “Member” of Polynation Pictures, LLC. (1) Runge serves as part owner of the company (4)

August 18, 2008: Articles of Organization are filed for The Scientist, LLC (5)

On the Articles of Organization, the principal office of The Scientist, LLC is 535 West Broadway, Suite 200. (5) This is the location of Matt Schultz’s law practice. From December 20, 2007 through March 30, 2010, this was office address of Coats, Schultz, and Watson, LLP. (2) It is now the office address of Schultz and Watson, LLP. (3)

The registered agent for The Scientist, LLC is Jeffrey A. Coats. (5) At the time The Scientist, LLC was created, Coats was the law partner of Matt Schultz. (2, 5)

Wendy Weiner Runge signed the Articles of Organization as an “Organizer” of The Scientist, LLC. (5) Runge is part owner of the company along with Matthias Saunders (4).

February 8, 2010 and June 10, 2010: Iowa Attorney General charges Wendy Weiner Runge, Matthias Saunders, Polynation Pictures, LLC, and The Scientist, LLC with multiple counts of fraudulent practices in the first degree and ongoing criminal conduct. (6)

October 26, 2010: State Auditor David Vaudt releases audit of the Film Tax Credit Program. Page 142 and 143 of the audit cites a $10,000 “unqualified expenditure” for legal services provided by Schultz’s law firm in the fall of 2008 as part of “The Scientist” film project.

Citations:

Click here to download documents.

  1. Articles of Organization for Polynation Pictures, LLC filed with the Secretary of State’s office August 6, 2008. (click link above to download)
  2. Statement of Qualification of Limited Liability Partnership. This document created the Coats, Schultz, and Watson, LLP partnership on December 20, 2007. (click link above to download)
  3. Amendment to Statement of Qualification of Limited Liability Partnership. This document changed the law firm from Coats, Schultz, and Watson, LLP to Schultz and Watson, LLP. The change occurred on March 30, 2010. The company maintained the same address as before; 535 West Broadway Suite 200, Council Bluffs, IA 51503. (click link above to download)
  4. WCCO: Iowa AG Files Charges Over Film Tax Credits and QC Times: Charges filed in Iowa film tax credit scandal
  5. Articles of Organization for The Scientist, LLC filed with the Secretary of State’s office August 18, 2008. (click link above to download)
  6. Preliminary Complaint from Iowa Attorney General’s office and IowaPolitics.com: Attorney General Miller: New criminal charges filed in Iowa Film Office case
  7. State Auditor Vaudt’s Report. (click link above to download)
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