Tech mogul Robert Brockman has been charged with tax evasion totaling over two billion dollars, the largest case of its kind in the United States.
Brockman, the CEO of Reynolds and Reynolds, a company that makes management software for car dealerships, is also accused of money laundering, wire fraud and other crimes over a 20-year period. His illegal schemes included offshore entities in Bermuda and Nevis, and secret bank accounts in Bermuda and Switzerland. Among items he purchased with unreported taxable income were several homes and a luxury yacht for 29 million dollars named Turmoil.
To avoid detection, Brockman created an encrypted email system to communicate with employees and used code names such as ‘bonefish’ and ‘snapper’ and ‘the house’ for the IRS. He once asked a money manager to attend a ‘money laundering conference’ under an assumed identity, and had the same manager destroy documents using shredders and hammers.
He faces a lengthy prison sentence and millions of dollars in fines.