Billionaire investor Mike Novogratz won half a bitcoin in an election bet, then gave it away through a self-hosted lottery | Currency News | Financial and Business News

  • Billionaire investor Mike Novogratz won half a Bitcoin in an election bet over the weekend, but then hosted a lottery to hand it out to “new Bitcoiners.” 
  • Novogratz, the CEO and founder of crypto-focused merchant bank Galaxy Digital, was expecting Democrats to secure both the White House and the Congress.
  • A Twitter user @Adelgary won the lottery, but others contested the outcome by claiming he already owns Bitcoin and isn’t new to the crypto world.
  • Half a Bitcoin is currently worth $7,726.
  • Visit Business Insider’s homepage for more stories.

Billionaire investor Mike Novogratz said he won half a Bitcoin in an election bet on Saturday, and gave it up in a self-hosted lottery to a Twitter user.

Half a Bitcoin is currently worth $7,726. Bitcoin has risen 10% in the past week, hitting $15,453 as of 10:20 am GMT on Monday. The price has gained almost 60% since

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Buying Bitcoin ‘Like Investing In Google Early Or Steve Jobs And Apple,’ Predicts Wall Street Legend And Billionaire Paul Tudor Jones

Bitcoin has come a long way in the ten years since it was created but, for some, it still feels early.

The bitcoin price, climbing to year-to-date highs this week and recapturing some of the late 2017 bullishness that pushed it to around $20,000 per bitcoin, has found fresh support from Wall Street and traditional investors this year.

Now, Wall Street legend and billionaire Paul Tudor Jones, who made headlines when he revealed he was buying bitcoin to hedge against inflation earlier this year, has said buying bitcoin is “like investing with Steve Jobs and Apple
AAPL
or investing in Google early.”

MORE FROM FORBESExclusive: U.K.-Listed Mode Now Holds $1 Million Of Bitcoin

“Bitcoin has a lot of

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25-Year-Old Luminar Founder Set To Become Billionaire Through SPAC Deal

You’ve heard of tech billionaires Musk and Zuckerberg. Well, now there’s Russell — 25-year-old Austin Russell, to be exact.

This enterprising young man dropped out of Stanford in 2013 to found Luminar, a tech start-up developing light detection and ranging (LIDAR) technology for the self-driving vehicle industry.

Like many other automotive tech companies in recent months, Luminar is set to go public through a reverse merger with special purpose acquisition corporation (SPAC) Gores Metropoulos (NASDAQ:GMHI). That merger is expected to make Russell one of the world’s youngest billionaires.

Big money

SPAC mergers have become almost commonplace in the automotive industry this year, with big names like electric truckmaker Nikola and electric drivetrain manufacturer Hyliion (NYSE:HYLN) both choosing a reverse merger over an IPO.

For its part, if Luminar goes public sometime in the fourth quarter as scheduled, it won’t even be the first LIDAR company to do so this year.

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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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Billionaire CEO of software company indicted for alleged $2 billion tax evasion schemes

The billionaire chief executive of Ohio-based Reynolds and Reynolds Co, Robert Brockman, has been indicted on charges of tax evasion and wire fraud conducted over “decades.”

The scheme, in which roughly $2 billion was hidden away in offshore accounts and through money laundering, took place between 1999 and 2019, the US Department of Justice (DoJ) said on Thursday. 

See also: DoJ charges four brothers for defrauding Amazon in overshipping scheme

According to the indictment (.PDF), the resident of both Houston, Texas, and Pitkin County, Colorado allegedly used a “web” of offshore organizations in Bermuda and Nevis to hide the profits he made from investments in private equity funds. 

Brockman squirreled away his capital gains and also tampered with the evidence of his alleged activities, prosecutors say, by methods including backdating records and using “encrypted communications and code words” to communicate with co-conspirators, including the phrases “Permit,” “King,” and “Redfish.”

A

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