"I can't reveal all the details yet, but I can tell you that we have evidence of government employees gladly offering public assistance to individuals representing themselves as drug smugglers and members of a terrorist group," O'Keefe wrote in a teasing email to supporters.
"The worst part is that this fraud isn't isolated or even hidden. It's nationwide and it's out in the open," he writes.
Of course, O'Keefe has over-hyped his investigations in the past. He called his story on George Soros giving money to NPR a scoop even though that has been widely reported and edited an undercover video to show an NPR fundraiser in a more negative light.
O'Keefe's email on behalf of Project Veritas, which was recently granted non-profit status, says they'd use the cash to complete production on their report and "refill our nearly exhausted bank account." Back in March, O'Keefe was asking for $50,000 to cover 'major credit card debt', and the group raised just $2, 367 in 2010.
Now O'Keefe is promising supporters he'll mention them in the credits of the video when it is released if they give over $50.
"Everything we've built is on the line, but I know I can count on you to step up," O'Keefe writes. "With your help, we'll finish production and break what promises to be our biggest story yet."