Brokman Robert (Robert Brockman)

Brokman Robert (Robert Brockman)

Biography

2020: Charge of failure to pay $2 billion taxes

In October, 2020 the U.S. Department of Justice brought to Robert Brokman charge of failure to pay $2 billion taxes. It is the record amount for similar trials concerning the individual, but not the company, noted in department.

It is said in the statement of Ministry of Justice that the founder of Vista Equity Partners Robert Smith will pay $140 million for concealment of income in offshore within the agreement on failure from legal prosecution. Brokman, as it is explained, was the first investor in initial fund Vista Equity Partners in 2000, having invested all the capital there — about $300 million. Later it increased the investments to $1 billion.

Prosecutors claim that concealment of profit which he got from the investments into Vista was the purpose of a plot of Brokman for the purpose of tax avoidance. It is reported that he hid profit through network of offshore companies.

Brokman appointed candidates for management of the offshore organizations for it as means of concealment of his participation, having created even the ciphered system of e-mail.

Robert Smith agreed to pay more than 139 million dollars as tax arrears. Recognition in frauds destroyed reputation of the billionaire which he built for years, writes the edition. Smith donated hundreds of millions dollars for the different charitable purposes, for example, he paid debts for training of graduates of Morehouse College.

As for Brokman, in addition to tax avoidance, the CEO of manufacturing company of the software for the Reynolds & Reynolds cars is accused fraud with securities — according to the investigation, he bought and sold debt securities of the company, "having violated a promise to investors that he will not sell or buy debts of the own company".^[1]

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