Texas software tycoon who ‘hid $2B in secret offshore accounts’ is charged with biggest tax evasion case in US history – after fellow billionaire Robert Smith turns against him in $139M settlement

By Karen Ruiz For Dailymail.com and Reuters

– Daily Mail

Federal prosecutors said Brockman used a web of off-shore companies in the Caribbean to launder money

A Texas software mogul accused of hiding billions of dollars in offshore accounts has been charged with the largest tax fraud scheme in US history, prosecutors said. 

Robert Brockman, 79, was charged with money laundering and evidence tampering on Thursday after allegedly hiding $2billion in income over a 20-year period.  

The 39-count indictment states the CEO of Ohio-based Reynolds and Reynolds Co, used a web of off-shore companies in Bermuda and St. Kitts and Nevis to hide and launder money.

Texas billionaire and CEO of Ohio-based Reynolds and Reynolds Co., Robert Brockman (pictured) was charged with money laundering and evidence tampering on Thursday after allegedly hiding $2billion in income over a 20-year period” class=”blkBorder img-share” />

Texas billionaire and CEO of Ohio-based Reynolds and Reynolds Co., Robert Brockman (pictured) was charged with money laundering and evidence tampering on Thursday after allegedly hiding $2billion in income over a 20-year period

He was indicted after fellow billionaire Robert Smith turned against him to avoid prosecution

Smith, accepted responsibility for his own crimes in the tax evasion scheme by agreeing to pay $139million in taxes and penalties.

He was indicted after fellow billionaire Robert Smith turned against him to avoid prosecution. Smith accepted responsibility for his own crimes in the tax evasion scheme by agreeing to pay $139million in taxes and penalties

Prosecutors said Brockman appointed nominees to manage the entities for him as a means of hiding his involvement, saying he even went so far as to establish a proprietary encrypted email system and used code words to communicate.