Officials with the Department of Justice said that 79-year-old Brockman had been hiding money for more than 20 years by using complex schemes that include filing false tax returns and setting up secret bank accounts all over the world and in “offshore tax havens” that are out of reach for the Internal Revenue Service in order to launder and hide money. Brockman is also charged with investor fraud.
Robert Smith, who is the founder and chairman of investment firm Vista Equity Partners has agreed to cooperate with the investigation and also to pay $139 million in a tax probe settlement, according to prosecutors.
“Complexity will not hide the crime from law enforcement. Sophistication is not a defense to federal criminal charges,” David L. Anderson, U.S. attorney for the Northern District of California said.
“We will not hesitate to prosecute the smartest guys in the room,” Anderson stated.
Brockman is the CEO of Dayton, Ohio-based Reynolds and Reynolds Co.
Brockman is scheduled to appear in court in San Francisco following the indictment being unsealed on Thursday.
Kyle James Lee – The AEGIS Alliance – This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.