capitalism
Out of context: Reply #605
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Software CEO Robert Brockman charged in $2 billion tax evasion case
A federal grand jury returned an indictment alleging that Brockman, the CEO of software company Reynolds & Reynolds, engaged in tax evasion, wire fraud, money laundering and other crimes as part of a nearly 20-year scheme to conceal around $2 billion in income from the Internal Revenue Service and defraud investors in his software firm's debt securities, federal authorities said in a release.
The 39-count indictment — filed earlier this month in the Northern District of California and unsealed this week — reads at times like a screenplay: Allegations against Brockman include operating a complex web of foreign companies and bank accounts; using unreported taxable income to buy a luxury yacht called "Turmoil;" creating an encrypted email system to communicate with employees using code names such as "Bonefish" and "Snapper;" asking a money manager to attend a "money laundering conference" under an assumed identity; and persuading that same money manager to destroy documents and electronic media using shredders and hammers.