Protecting Oregonians from Fraud
Businesses wanting to operate in Oregon must register with the Secretary of State’s Corporations Division. Both the Audits Division and the Corporations Division of the office can be instrumental in protecting Oregonians from fraud and preventing financial abuse. Oregon is currently a hotbed of shell company abuse and related financial crimes.
Brad Avakian has a proven record in holding corporations accountable and protecting Oregonians from wage theft. As the Commissioner of Labor and Industries he has enforced the state’s minimum wage and prevailing wage laws and cracked down on corporations not playing by the rules.
As Secretary of State, Avakian will use the Audits Division to investigate companies contracting with the state and require greater transparency for all corporations registering with the state to prevent and prosecute financial fraud.
The Avakian Plan: Require detailed and accurate information
Require businesses filing with the state to disclose their owners and officers including names and physical locations. This will allow for contact to be made if the business is involved in a lawsuit or a crime. These records will be exempt from public records, but will be accessible to judicial and law enforcement agencies.
The Avakian Plan: Audit private businesses contracting with state to ensure compliance with contract and Oregon law
When circumstances warrant, use the Audits Division to audit companies doing business with the state to ensure compliance with laws and fulfillment of the public contract. Pass legislation allowing penalties against registered agents, owners, and officers of corporations engaged in fraud and crack down on shell company abuse.
The Avakian Plan: Judicial & law enforcement access to records
Provide law enforcement, investigative agencies and courts with access to owner and officer information of corporations registered with the Secretary of State’s office. This will provide greater ability to properly serve complaints against businesses who register sham corporations or otherwise engage in illegal activity. Allowing both stronger investigative actions and judicial enforcement will deter those wishing to commit fraud in Oregon.