US officials say Robert Brockman, 79, hid capital gains income over 20 years through a web of offshore entities. Photo / APUS prosecutors have charged Texas billionaire Robert Brockman with a US$2 billion ($3b) tax fraud scheme in what they say is the largest such case against an American. The 39-count indictment unsealed on Thursday (Friday NZT) charges Brockman, the chief executive officer of Ohio-based software company Reynolds and Reynolds Co, with tax evasion, wire fraud, money laundering, and other offences. Reynolds & Reynolds issued a statement saying the allegations were outside Brockman's work with the company and that the company is not alleged to have participated in any wrongdoing. A spokesman for Reynolds and Reynolds said in 2013 that the event was a proposed refinancing deal involving Vista Equity Partners, Smith's company.

Source: New Zealand Herald October 16, 2020 03:16 UTC