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  1. #1
    Thailand Expat misskit's Avatar
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    Tech billionaire charged in 'largest ever' tax fraud for hiding $2 billion from IRS

    Federal prosecutors have charged Texas billionaire Robert Brockman with a $2 billion tax fraud scheme in what they say is the largest such case against an American.


    Department of Justice officials said at a news conference Thursday that Brockman, 79, hid capital gains income over 20 years through a web of offshore entities in Bermuda and Nevis and secret bank accounts in Bermuda and Switzerland. Prosecutors announced that the CEO of a private equity firm that aided in the schemes would cooperate with the investigation.


    The 39-count indictment unsealed Thursday charges Brockman, the chief executive officer of Ohio-based software company Reynolds and Reynolds Co., with tax evasion, wire fraud, money laundering, and other offenses.

    Prosecutors also announced that Robert Smith, billionaire founder and chairman of Vista Equity Partners, will cooperate in the investigation and pay $139 million to settle his own tax probe. Smith, 57, stunned a senior class last year when he promised to wipe out the student loan debt of the entire graduating class at Morehouse, a historically Black all-male college.

    MORE Tech billionaire charged in '''largest ever''' tax fraud for hiding $2 billion from IRS

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    Thailand Expat harrybarracuda's Avatar
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    That will rattle a few gilded cages I fancy.

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