And they're scheming to keep the taxman at bay earlier, long in advance of their initial public offerings, even at the venture-capital financing stage.

FORBES: It's Never Too Early

"The initial investigation is completed and we are now at a stage when we can arrest individuals and take them to court to face these charges, " De Beer said.

BBC: Oliphant asked the police to investigate

Mercedes Marquez, assistant secretary at the Department of Housing and Urban Development, told CNNMoney that the initial stage of the program has been difficult, in part, because the cities and communities involved in the program have never done this work before.

CNN: Patience needed for housing loan program, home buyer finds

It also made the case that the identities of any bids would become public once they had got beyond an initial application - and that the only extra information to be revealed would be those groups rejected at the first stage.

BBC: Free school bids ordered to be disclosed