Texas Billionaire Charged In Huge Tax Fraud Scam

Houston (WBAP/KLIF) – Federal prosecutors have charged Texas billionaire Robert Brockman with conducting a $2 billion tax fraud scheme that they say is the largest such case ever brought against an American. Department of Justice officials say the 79 year old CEO of Houston’s Reynolds and Reynolds Company hid money for more than 20 years through a web of offshore entities in Bermuda and Nevis, and through secret bank accounts in Bermuda and Switzerland. Prosecutors also announced that Robert F. Smith will cooperate in the investigation, and pay $139 million to settle his own tax faud allegations. Reynolds and Reynolds Company says in a statement that the allegations against Brockman were separate from his work with Reynolds and Reynolds.