Federal prosecutors on Thursday charged Houston software executive Robert Brockman with multiple counts of tax evasion, money laundering, and wire fraud for allegedly hiding $2 billion in income over 20 years. Officials say the case is the largest criminal tax evasion prosecution in U.S. history, The Wall Street Journal reports. Brockman, 79, is chief executive of automation software company Reynolds & Reynolds Co., but the charges stem from his investment in a private equity fund managed by Vista Equity Partners and its founder, billionaire Robert Smith.
Smith, 57, reached a plea deal with prosecutors, admitting to willfully evading $43 million in federal taxes, agreeing to pay $139 million in fines and back taxes, and cooperating with the investigation. In return, he won't be prosecuted. Brockman is the sole investor in Vista's first private equity fund. His investment helped Smith become the wealthiest Black man in the U.S. Smith announced last year that he would pay off all student loans for the 2019 graduates of Morehouse College.
The alleged tax evasion by Brockman and Smith was "brazen, intentional, and significant," said Jim Lee, chief of criminal investigations for the Internal Revenue Service. "These allegations should disgust every American taxpayer as well, because the law applies to all of us when it comes to tax and paying our fair share."
Brockman pleaded not guilty to all charges and was released on a $1 million bond. Reynolds & Reynolds noted in a statement that Brockman's alleged crimes were comitted "outside of his professional responsibilities with Reynolds & Reynolds." Peter Weber
The second and final presidential debate was supposed to have a section devoted to national security, and perhaps that's what a few unilluminating questions about North Korea and foreign election meddling were intended to be. Or perhaps, as I first assumed given the topical order, that section was cut for time. Either way, this bare minimum of attention to foreign policy is inexcusable for an examination of the two candidates running to be commander-in-chief in a country addicted to perpetual war.
Our Constitution assigns power to initiate military conflict to Congress, and Congress, as a matter of habit, does its best to abdicate that responsibility in favor of unaccountable executive war-making. The Constitution also gives the president authority to prosecute wars already underway. As it happens, we have several.
The war in Afghanistan is our nation's longest ever, now in its 19th year and long since lost to any sort of American "victory." It was given no substantive attention tonight, nor was it discussed in the first debate.
The war in Iraq was also not addressed. That failed regime change project has cost us about $2 trillion, created the power vacuum that led to the rise of the Islamic State, and has a civilian death toll estimated in the hundreds of thousands. Too boring for a debate, perhaps?
Yemen, where the United States is enabling the world's worst humanitarian crisis, was ignored. So too recent (and in some cases ongoing) U.S. military interventions in Syria, Libya, Somalia, and more than two dozen locations in North and Sub-Saharan Africa.
These are literally matters of war and peace, life and death. They are also matters in which one of these men soon will have considerable discretion to leave or stay the course of two decades of inhumane and counterproductive foreign policy. That discretion requires interrogation. It didn't get it tonight. Bonnie Kristian