Texas billionaire charged in largest tax fraud case against an American

[TELL ME YA CHEESIN FAM?]

SAN FRANCISCO -- Federal prosecutors charged Texas billionaire Robert Brockman on Thursday 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 in San Francisco that Brockman, 79, hid the money over 20 years through complicated schemes including filing false returns and setting up secret accounts all over the world to hide and launder money. They also charged him with investor fraud

Prosecutors also announced that Robert Smith, founder and chairman of investment firm Vista Equity Partners, will cooperate in the investigation and pay $139 million to settle a tax probe.

"Complexity will not hide crime from law enforcement. Sophistication is not a defense to federal criminal charges," said David L. Anderson, U.S. attorney for the Northern District of California.

"We will not hesitate to prosecute the smartest guys in the room," he said.

Brockman is CEO of Reynolds and Reynolds Co. of Dayton, Ohio.

The indictment was unsealed Thursday and Brockman is scheduled to make an appearance in San Francisco.

Texas billionaire charged in largest tax fraud case against an American

 

[King]

Not surprised, I’m sure there’s way more billions out there. Thought it would be more.

 

[TELL ME YA CHEESIN FAM?]

Not surprised, I’m sure there’s way more billions out there. Thought it would be more.

2 billies though?

Free @Don Diego

 

[Heafcliffe]

Sheesh!











Dummy!

 

[10bandz]

smh @ robert smith getting caught up in this

 

[shopthatwrecks]

why san framcisco speakin on texas

 

[Wildin]

Sheesh!











Dummy!

I wouldn't call him a dummy.

The whole mantra of play by the rules is bullshyt. Find me a rich or wealthy motherfukker who isn't stealing, skimming, scamming, pilfering, and or lying.

 

[TELL ME YA CHEESIN FAM?]

Sheesh!










Dummy!

He got away with it for 20 years
He's 79... could have died years ago

 

[Sauce Dab]

Martha Stewart somewhere hitting the

 

[10bandz]

So Robert Smith knew he was starting his private equity fund with concealed funds from a cac ........ and now he's snitching on him

 

[Paper Boi]

rich people the biggest criminals

 

[TELL ME YA CHEESIN FAM?]

So Robert Smith knew he was starting his private equity fund with concealed funds from a cac ........ and now he's snitching on him

Robert T. Brockman, chief executive of automotive software-maker Reynolds & Reynolds Co., was indicted on charges including tax evasion, money laundering, failure to disclose assets held overseas and wire fraud. Mr. Brockman is the sole investor in the first private-equity fund managed by Vista Equity Partners, a firm founded by billionaire Robert Smith. Authorities said Mr. Brockman concealed gains he made in Vista’s funds from the Internal Revenue Service.

Mr. Smith on Thursday admitted to willfully evading $43 million in federal taxes from 2005 to 2014 and agreed to cooperate with the continuing investigation. Under a settlement reached with the Justice Department, he will pay $139 million in fines and back taxes but won’t be prosecuted.

 

[BaggerofTea]

Damn, I see why Robert Smith paid out to the feds.

They had his partner dead to rights

Well if it makes if give to HBCUs so be it.

 

[ThrobbingHood]

79? That’s a couple of decades too late. That CAC lived the good life. He’ll probably commit that before he does anytime.

These white collar crime CACs only seem to get charged when they’re close to their deathbed. I know they have to “build” a case against them but I rarely see young CACs doing long stretches over money laundering.

The game is the game.

 

[MR. SNIFLES]

why san framcisco speakin on texas

PROBABLY HIDING MONEY TO KEEP DROM PAYING HIGH ASS CALIFORNIA TAXES.