Robert Theron Brockman (May 28, 1941 August 5, 2022) was an American billionaire businessman and once CEO of Ohio-based Reynolds & Reynolds software company. That matter is pending before a federal court judge in Houston. Brockman, who. Time will tell. He is accused of hiding income he made on his investments in private equity funds from the IRS. In 1968, he wed Dorothy Kay Brockman; they made their home in Houston. Brockman is the founder and former CEO of Dayton, Ohio-based Reynolds and Reynolds Co., which sells business software to auto dealerships. I've had enough of life': Grandmother, 86, is reduced to tears after killjoy Tory RICHARD LITTLEJOHN: As Florida governor and Donald Trump rival Ron DeSantis steps up his bid to win the Hairy Bikers star Dave Myers speaks out on his deep depression after chemotherapy which left him having 'How I snatched JK Rowling's baby out of her abusive husband's arms - and helped her flee with the Harry Top equestrian rider, 39, once known as the 'golden girl' of horse eventing, is facing jail after being A possum feared extinct is discovered by an amateur naturalist in Papua New Guinea being cooked on a Now California reparations panel RAISES amount it wants to give 1.8m black people from $220,000 to $360,000 My weekly horoscope: What will March 4th 2023 bring for MY star sign? Neal Stephenson's legacy is coming to Web3. Included in those details is the existence of an unnamed Houston lawyer who served as a longtime adviser to Mr. Brockman. Smith himself used this enigmatic attorney from 2000 to 2014 to put in place false paper trails to hide his accounts, according to Smiths, ahem, account. Says Gillrie, When you have a contract that gives you a monopoly on your customer for 30 years, you dont have to listen to anything they say., In 2010 Jay Gill, a Fresno, Californiabased entrepreneur with 10 dealerships, was hit with a $3 million bill when he acquired Livermore Auto Group, which had been paying $35,000 a month to Brockmans company. For now, thats all we know about this shadowy legal figure at the heart of what could certainly become the largest criminal tax conviction in U.S. history. Lewy body dementia is a common form of the cognitive illness in which protein deposits in nerve cells cause physical and mental impairment. Do not sell my information. Brockman, who has pleaded not guilty to 39 counts of tax evasion, wire fraud and money laundering, lives in this Houston, Texas mansion +7 View gallery Prosecutors say he owns a Houston mansion. Brockman briefly attended Centre College in Danville, Kentucky, and later graduated summa cum laude from the University of Florida in 1963, and was a member of its business honor society. Under the ownership of Mountain Queen LLC in Aspen, 230 McFarlane Road also is located off Highway 82 toward Independence Pass. Born during the Second World War to a physiotherapist and a gas station owner, Robert Brockman grew up in St. Petersburg, Florida, and graduated summa cum laude from the University of Florida in 1963, a member of its business honor society. Smith, the richest black person in America with a net worth about $7 billion, has also been ordered to pay$139 million in back taxes and penalties. Brockman was the former chairman and CEO of Reynolds and Reynolds, which sells software and services . Ominously, though, for the other Robert, Smiths nonprosecution agreement contains a requirement that he continue cooperating with the DOJ in other related investigations.. Billionaire Robert Brockman may have to turn over his$15 million fishing compound in Colorado and $77.9 million in a Swiss bank account to federal prosecutors. Last October, Smith signed a nonprosecution agreement with the Department of Justice and confessed to what would have been a host of tax felonies tied to secret offshore accounts set up at Brockmans behest. His trial currently hinges on a mental competency hearing scheduled for June. Friday, March 3. Heres how Lexis Search Advantage | Transactional unites internal and external research to create better deals faster. Arnold, MO 63010-3756. [6], A 39-count indictment was filed against Brockman in September 2020 in the Northern District of California. His company Reynolds and Reynolds, which he led until the indictment, provides software for car dealerships. His UCS had oodles of excess cashwhich he apparently had no intention of sharing with Uncle Sam. Links: www . But Brockman was facing a big problemFord had developed its own electronic parts catalog. This article discusses the choice of entity in the film industry. HOUSTON, TEXAS: Robert Brockman, a multi-millionaire software developer involved in the largest individual tax evasion case in US history died on Friday, August 5. Smith wound down Vistas first fund and set up a foundation with hundreds of millions of dollars of its profits. In mid-October, a federal grand jury in San Francisco returned a 39-count indictment against billionaire Robert T. Brockman. He liberated airlines and trucking and enabled the 1980s-1990s boom. Director, Retail Technology. This Tool Can Help. Those who tried to get out of their contracts met the buzzsaw of Brockmans litigation team. Stuck Drafting A Tough Brief? In a 2019 court deposition, the secretive Robert Brockman, 79, whose enterprise software company, Reynolds and Reynolds, sells DocuPad, offered a rare peek into the microeconomics of car sales. Shoppers are skittish anyway, We want to add speed to seed funding: Anjali Sosale of WaterBridge, COPYRIGHT 2023, FORBESINDIA.COM ALL RIGHTS RESERVED, Millennials are shunning credit cards. Robert Brockman died on August 6th, 2022 at the age of 80. Soon he was providing dealers with printed weekly reports on parts inventory. Brockman stands accused of tax evasion, money laundering, and wire . Following his retirement in the late 1950's, Walter Brockmann moved to St. Louis, Missouri. He owned a Bombardier jet and. Bespoke PM Company Good pay & benefits FT/Year round Reliable/Honest/Solid PM Skills/Mechanical &AV-IT Basics/Good w/People/Self Starter/Problem Solver, Seeking Individuals looking for Long Term Work!90 day raise, yearly raise - no experience needed!- all training provided. Now Brockman had thousands of new clients to transition to his Darth Vader contract. A year later, when Deutsche arranged a refinancing of Reynolds debt, Edge redeemed Brockmans notes at par, netting $72 million on the trade and depositing the funds into an offshore account. In his statement, Smith explains that he was incentivized to deliver returns on Brockmans $1 billion because Brockman had the power to replace him by forcing Smith to sell him their general-partnership control interests in Vista Fund II at Brockmans price. The Global Legal News You Need, When You Need It, Add AI Research And Catching Up With Your Law School Buds To The Career Growth List -- See Also, Reach out just to catch up. He died in August 2022 at age 81. All Rights Reserved. On this Wikipedia the language links are at the top of the page across from the article title. Homes - Celebrity - Business Links: www.bizjournals.com By: shale69 Advertisement Enter the 2010 Playboy Playmate of the Year, whom Smith began dating after his 2011 separation from his wife. When Smith and McFayden finalized their divorce later in 2014, Brockman loaned Smith $75 million, according to court documents. articles a month for anyone to read, even non-subscribers! The referrals are a nice bonus too! [4], Brockman owned a Bombardier private jet, a 209-foot yacht named Turmoil , a 17,000-sq.ft. In a ruling Monday, U.S. District Judge William Alsup in San Francisco granted the change of venue requested by Brockmans attorneys, who cited his declining health and Department of Justice guidelines that require such trials occur in the judicial district of the taxpayers resident or principal place of business, FRAUD CHARGES: DOJ charges Texas billionaire in $2 billion tax fraud scheme. A federal grand jury in San Francisco, California, returned a 39 count indictment charging Robert T. Brockman, the Chief Executive Officer of an Ohio-based software company, with tax evasion, wire fraud, money laundering, and other offenses, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Tax Division, U.S. Attorney David L. Anderson for the Northern District . The penny-pinching billionaire 'behind biggest ever US tax Trump announces he has taken a $1.2B loan against the Bank hiding $2 billion in income from the IRS over two decades using a web of off-shore companies in Bermuda and St. Kitts and Nevis. Ever since Ford Motor Company began selling its Model T in 1908, few pieces of technology have been as important to car dealer profit margins as the DocuPad. In 2013 Brockman attempted a dividend recapitalization of Reynolds that would have valued the company at $5.3 billion and increased debt from $900 million to $4.3 billion. with this post, location or person. Naturally, a dealer can get the DocuPad only if hes also a licensee of one of Brockmans integrated dealer management systemsdigital platforms for everything from parts inventory and service scheduling to the machines that secure the thousands of keys at an average dealership. Brockman stands accused of tax evasion, money laundering, and wire fraud, among other offenses, as part of a decades-long scheme aimed at hiding $2 billion from the IRS and bilking investors who hold debt securities in Brockmans software company. He can be reached at jon_wolf@hotmail.com. Federal prosecutors are trying to seize a $15 million fishing compound in Colorado and $77.9 million in a Swiss bank account linked to an alleged fraud by billionaire Robert Brockman, who was indicted last year in the biggest U.S. tax-evasion case ever against an individual. Authorities had been investigatingBrockman over the tax fraud allegations for several years and prosecutors claim he found out about the probe as early as 2016. Robert Brockman, former CEO of Ohio-based software company Reynolds & Reynolds, was charged in October with running a $2 billion tax fraud scheme. And in what was perhaps her toughest ask, McFaydens lawyers demanded that Smith get up to date with his taxes. Presumably, this way Brockman could take comfort in knowing they were in it together. Prosecutors allege that Brockman started seeking medical evaluations for his mental health shortly after a 2018 raid on his attorney's home in Bermuda, according to court documents obtained by the Wall Street Journal. [7] Brockman was accused of engaging in a 20-year long scheme to hide around $2 billion in income from the IRS. Said Tamine in an encrypted memo, As you know, I even cut short the trip to Argentina to get back to Oxford to destroy more drives that had been discovered.. Tamine, in a memo to Brockman, wrote of the importance of appearing charitable: These activities would work as a strong barrier against an attack from the IRS., On October 15, 2020, U.S. attorneys dropped their bombshell about Smith and Brockman. 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