The Biggest Tax Evasion Case in U.S. History 💰

The Biggest Tax Evasion Case in U.S. History

Robert Brockman. Multi-Billionaire. CEO of Reynolds and Reynolds Co. 79 Years Old.

The Texan has been accused of hiding billions of dollars in offshore accounts and charged with the largest tax fraud scheme in U.S. history, according to prosecutors.

The indictment states that he used a network of off-shore companies in Bermuda and St. Kitts to launder an alleged $2 billion in income over a 20-year period. Prosecutors also stated that he attempted to disguise his involvement in the scheme by designating others to organize the schemes and even went as far as to construct a proprietary encrypted email system, using code words to communicate.

Brockman has also been charged with securities fraud after he bought and sold debt securities in his own company, “breaking a promise to investors that he would not buy or sell his own company’s debt.”

The Texas billionaire got caught and charged only after billionaire Robert Smith turned against him! Robert Smith is best known for telling students at Morehouse College class of 2019 that he would pay off $34 million of their student debt. Even so, Mr. Smith has had to accept responsibility after admitting to his own involvement in the tax evasion scheme. To avoid prosecution, Smith agreed to pay $139 million in taxes and penalties and fully cooperated by turning against Mr. Brockman.

Now Brockman is left to face seven counts of tax evasion, six counts of failing to file reports disclosing foreign bank accounts, and several more counts include wire fraud, money laundering and evidence tampering.  Everything’s bigger in Texas.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.


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