Friday, October 16, 2020

DOJ charges Texas billionaire in $2 billion tax fraud scheme

He must not have donated to Trump's campaign.

https://news.yahoo.com/doj-charges-texas-billionaire-2-173855217.html

JANIE HAR
,Associated Press•October 15, 2020

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.

•••••

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 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.

•••••



No comments:

Post a Comment