Software CEO billionaire Robert Brockman indicted in alleged elaborate tax-evasion scheme

A Texas billionaire has been charged in the largest alleged tax scheme in U.S. history.

Robert Brockman, the 79-year-old CEO of software company Reynolds & Reynolds, is accused of attempting to conceal a staggering $2 billion, officials claim.

In a blistering 44-page indictment that spells out numerous alleged attempts of financial impropriety, Brockman is accused of money laundering, wire fraud, tax evasion, evidence tampering, destruction of evidence and conspiracy.

A federal grand jury reached its conclusion after being told of a nearly 20-year scheme to stash approximately $2 billion in income from the Internal Revenue Service and defraud investors in his software firm’s debt securities, said federal authorities in a statement.

Among the more seedier points in the 39-count indictment are allegations of operating murky foreign bank accounts, purchasing a luxury yacht called Turmoil and an encrypted email system that utilized code names to communicate with employees.



a man wearing a suit and tie: Texas technology mogul Robert Brockman has been indicted in a $2 billion tax-evasion case.


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DOJ Charges Texas Billionaire in $2 Billion Tax Fraud Scheme

SAN FRANCISCO (AP) — 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 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 F. Smith, 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

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Texas billionaire charged in $2-billion tax fraud scheme

Federal prosecutors have charged Texas software tycoon Robert Brockman in a $2-billion tax fraud scheme that they say is the largest such case against an American.

Department of Justice officials said 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 said 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 CEO of Ohio-based software company Reynolds and Reynolds, with tax evasion, wire fraud, money-laundering and other offenses.

Prosecutors also announced that Robert F. Smith, founder and chairman of Vista Equity Partners, would 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

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