Swiss Freeze More Than $1 Billion Held by Tech Mogul Robert Brockman

Geneva prosecutors have frozen more than 1 billion held in Swiss bank accounts belonging to Houston software tycoon Robert Brockman, who’s wanted by the U.S. for alleged tax evasion and money laundering.

A spokeswoman for the Geneva Prosecutor’s Office confirmed the amounts cited by an earlier report in local blog Gotham City but declined to identify the names of the banks involved.

About $950 million is held at Geneva-based Mirabaud & Cie., with about $100 million more kept at Banque Syz, also based in the Swiss city, according to the blog post.

A spokesman for Mirabaud declined to comment. A spokeswoman for Syz said it attaches the “utmost importance” to complying with money-laundering obligations but that its Swiss banking secrecy legal obligations prevent it from commenting on a specific case.

Brockman was indicted in October by U.S. federal prosecutors for allegedly using a network of secret Caribbean entities to evade taxes on $2 billion in investment income in what may be the largest prosecution of its kind in U.S. history. Brockman is accused of using a Bermuda-based charitable trust and other offshore entities to hide assets from the Internal Revenue Service while failing to pay taxes. He was also charged with money laundering and other crimes.

A message left with Brockman’s lawyer asking about his Swiss bank accounts was not immediately returned.

Read more: Tech Mogul’s Secrecy Crumbles in IRS Chase of ‘Record’ Trove

Prosecutors were helped by Robert , the CEO of Vista Equity Partners, who set up his private equity fund 20 years ago with a $1 billion injection from Brockman’s trust. Smith avoided prosecution by agreeing to cooperate against Brockman. He also admitted he failed to pay $30 million in taxes, and will pay $140 million in back taxes, fines, and penalties, according to people familiar with the matter.

— With assistance by Neil Weinberg

Source: Read Full Article