Robert Brockman, the Houston billionaire and CEO of a software company, has been charged with taking $2 billion through a scheme to evade taxes, hide assets, and launder money, in … This material may not be published, broadcast, rewritten, or redistributed. First published on October 15, 2020 / 4:46 PM. In addition to allegations of tax fraud, the Justice Department said Brockman also secretly bought up nearly $70 million of his company's debt. Election Day could turn into "Election Week" with rise in mail ballots, Investor Robert Smith on minority businesses, will pay $139 million to settle a tax probe. The Associated Press contributed to this report. Robert Brockman, 79, was charged with money laundering and evidence tampering on Thursday after allegedly hiding $2billion in income over a 20-year period, federal prosecutors said. Threats of harming another Department of Justice officials said at a news conference in San Francisco that Brockman, 79, hid the money over 20 years, including filing false returns and setting up secret accounts all over the world to hide and launder money.

The government's investigation did not involve Smith's time at Vista, according to the source.
Brockman made an initial federal court appearance Friday, where he pleaded not guilty on all counts and was released on a $1 million bond, according to a report from the Wall Street Journal.

Be in the know. Brockman is also alleged to have fraudulently purchased nearly $68 million of his software company's debt securities, while maintaining insider information about the company. “Mr. No racism, sexism or any sort of -ism How do I vote in my state in the 2020 election? "Dollar amounts aside, I have not seen this pattern of greed or concealment and cover-up in my 25+ years as a special agent," Jim Lee, chief of the IRS Criminal Investigation Unit, said during a press conference. Federal prosecutors charged Texas billionaire Robert Brockman with a $2 billion tax fraud scheme that they say is the largest such case against an American.

Smith, of Vista Equity Partners, accepted responsibility for his role in the alleged tax evasion scheme and agreed to a non-prosecution agreement, officials said.

He entered a plea of not guilty to all counts and was released on $1 million bond, said Abraham Simmons, spokesman for the Northern District of California. Brockman, an investor in Vista Equity Partners, allegedly used offshore entities in Bermuda and Nevis and secret bank accounts in Bermuda and Switzerland to hide from the IRS income he earned on his investments in the fund, according to the indictment. A spokesman for Reynolds and Reynolds said in 2013 that the event was a proposed refinancing deal involving Vista Equity Partners, Smith’s company. accounts, the history behind an article. Brockman and Smith have a long business relationship. Reynolds & Reynolds issued a statement saying the allegations were outside Brockman’s work with the company and that the company is not alleged to have participated in any wrongdoing.

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Texas tech mogul Robert T. Brockman has been charged in a $2 billion tax evasion case, the largest ever tax charge in the United States, law enforcement officials said.

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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. The indictment also alleges that Brockman took measures such as asking employees to backdate records and using encrypted communications to conceal the alleged scheme. Smith committed serious crimes, but he also agreed to cooperate," said US Attorney David Anderson. Department of Justice officials said at a news conference 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.

The software helps set up websites, including live chats with potential customers, find loans and calculate customer payments, manage payroll and pay bills. © 2020 CBS Interactive Inc. All Rights Reserved. Houston billionaire Robert Brockman was charged in a $2 billion tax evasion scheme. Smith, who runs private equity and venture capital firm Vista Equity Partners, won praise last year when he pledged to pay off the college debt of graduating seniors from Morehouse University. each comment to let us know of abusive posts.
Sophistication is not a defense to federal criminal charges," David L. Anderson, U.S. attorney for the Northern District of California, said in a statement announcing the charges against Brockman.

Keneally is a former Assistant Attorney General of the US Department of Justice Tax Division. "The company is not alleged to have engaged in any wrongdoing, and we are confident in the integrity and strength of our business.".

The indictment says Brockman convinced another individual to destroy evidence of his debt purchases.

If convicted, Brockman faces "a substantial period of incarceration," authorities said, as well as restitution and criminal forfeiture. Please avoid obscene, vulgar, lewd, According to the indictment, Brockman gave an unnamed individual detailed instructions regarding the proposed gift to the college, including talking points, and directed the person to threaten to pull out if his demands were not met.


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