Texas billionaire Bob Brockman charged with biggest tax evasion case in US history; feds say losses total $2 billion

SAN FRANCISCO — Robert Brockman, the Houston billionaire and CEO of a software company, has been charged with taking $2 billion through a scheme to evade taxes, hide assets, and launder money, in what federal prosecutors say is the biggest case of its kind.

Brockman, 79, was charged in a 39-count indictment that includes charges of money laundering, conspiracy, wire fraud, and tax evasion. Prosecutors say he used code words on encrypted emails as part of an elaborate scheme to hide assets overseas.

“Complexity will not hide crime from law enforcement,” U.S. Attorney Dave Anderson said at a Thursday news conference announcing the charges. He added, “We will not hesitate to prosecute the smartest guys in the room.”

The indictment covers a 20-year period, authorities said.

Brockman’s case is tied to that of another American billionaire, Robert F. Smith, who agreed to cooperate with federal prosecutors against Brockman. Smith will not be charged with a crime in exchange for his assistance, Anderson said.

Smith has agreed to pay $140 million in back taxes and admitted a violation of federal law, according to media reports.

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Source:: The Mercury News – Entertainment

      

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