Senate Democrat Urges SEC to Probe Tribal Tax Credit Sponsor

Senate Finance Committee ranking member Ron Wyden (D-Ore.) is again pushing the Securities and Exchange Commission to investigate a company that sold nonexistent tax credits.

Wyden in a Thursday letter asked SEC Chairman Paul Atkins to consider revoking White River Energy Corp.'s securities registration. White River and third-party promoters have been selling the credits as tax shelters for wealthy investors, Bloomberg Tax first reported in December 2024.

White River has said the tribal tax credit program is legitimate.

Federal prosecutors have opened a criminal investigation into the sale of these credits, according to ...