Billionaire Robert Brockman, 79, has been hiding his surplus capital for more than 20 years through a network of foreign companies in Bermua, Nevis and secretive bank accounts in Bermuda and Switzerland, US Justice Department officials said at a press conference on October 15, NBC News reported on October 17.
The indictment includes 39 charges of fraud, electronic fraud, money laundering and other crimes against billionaire Brockman, CEO of Ohio-based software company Reynolds and Reynolds.
Prosecutors allege that billionaire Brockman used encrypted emails with code names Permit, Snapper, Redfish and Steelhead to conduct the fraud and order manipulation or destruction of evidence.
The alleged $2 billion tax fraud is the largest tax payment ever for an individual in the United States, said David L. Anderson, a federal district attorney for Northern California.
American billionaire Robert Brockman appeared in federal court from Houston via the online Zoom app on October 15.
According to Northern California spokesman Abraham Simmons, the American billionaire did not admit the allegations and was given a $1 million bond.
Billionaire Brockman is a resident of Houston and Pitkin County, Colorado. He is the president and CEO of Reynolds and Reynolds, a company with 4,300 employees near Dayton, Ohio, specializing in selling accounting software, sales and management to auto dealers. The software helps set up websites, including direct conversations with leads, loans finding and calculating customer payments, salary management and bill payments.
Prosecutors also announced that Robert Smith - the billionaire founder and chairman of Vista Equity Partners - would cooperate in the investigation and pay $139 million to settle his tax investigation. Billionaire Robert Smith caused a stir last year when he announced that he would pay off all the student loans of the Morehouse graduation course - an all-male, all- Black university.
