Texas billionaire Robert Brockman faces criminal charges including tax evasion, wire fraud

Texas Billionaire Robert Brockman charged with tax evasion
Screenshot from a video posted on YouTube by user Cindy/Center College

Robert Brockman, a billionaire in Texas and the CEO of automotive software company Reynolds & Reynolds Co., is facing criminal charges including tax evasion, wire fraud, money laundering, other offenses.

According to the U.S. Department of Justice, a federal grand jury in San Francisco indicted Brockman on 39 counts of criminal charges for violating federal laws.

The largest tax-evasion case in U.S. history

The Texas billionaire was indicted with seven counts of tax evasion for hiding around $2 billion of capital gains for two decades. It is the largest-ever tax evasion case in the history of the United States.

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In the indictment, Brockman allegedly created offshore entities and then used them to conceal his income from investments in private equity funds managed by a San Francisco-based investment firm.

Brockman allegedly transferred untaxed capital gains income to secret bank accounts in Bermuda and Switzerland between 1999 and 2019. He allegedly executed the scheme by backdating records and through a co-conspirator. As part of the tax evasion conspiracy, Brockman alleged used code words in encrypted e-mails when communicating with his co-conspirator.