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16-10-2020, 01:39 AM
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Robert Brockman: US tycoon charged over historic tax fraud scheme

https://www.bbc.co.uk/news/world-us-canada-54548626



Robert Brockman, chief executive of Reynolds and Reynolds, is alleged to have hidden $2bn (1.5bn) in income from tax authorities over two decades, using a network of offshore companies. He was also charged over an alleged fraud scheme involving debt securities. Mr Brockman appeared by teleconference at a federal court in Houston, Texas, and pleaded not guilty to the charges.

Prosecutors said they were alerted to his alleged activities by fellow billionaire Robert Smith, who they say testified against him to avoid prosecution himself.

In a statement, the US Justice Department alleged that Mr Brockman, 79, carried out the fraud by using a family charitable trust and several offshore firms based in Bermuda and St. Kitts and Nevis. These were allegedly used to hide income from his investments in private equity funds, managed by a firm in San Francisco, California. As part of the scheme, prosecutors said Mr Brockman used code names and encrypted emails to secretly manage the investments.

US Attorney David Anderson told reporters that Mr Brockman had also been charged for buying and selling debt securities in his own company, breaking a promise to investors. The debt was allegedly bought with the help of inside information he possessed.

The software tycoon faces 39 charges in all, including tax evasion, wire fraud and money laundering.
It's probably the biggest tax evasion case in US history ..... and it'll probably last forever ..... first until Brockman dies and then until his estate pays up .....
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16-10-2020, 03:58 PM
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Re: Robert Brockman: US tycoon charged over historic tax fraud scheme

Originally Posted by Omah ->

It's probably the biggest tax evasion case in US history ..... and it'll probably last forever ..... first until Brockman dies and then until his estate pays up .....
Or runs out of money paying very expensive legal fees along the way.
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16-10-2020, 04:50 PM
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Re: Robert Brockman: US tycoon charged over historic tax fraud scheme

Originally Posted by Percy Vere ->
Or runs out of money paying very expensive legal fees along the way.
If he's got a half decent team of accountants and he's worked with them then by reading between the lines he's not got a thing to worry about - and nor should he. Taxation is theft.
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