Houston Tech Mogul Robert Brockman Charged In Record U.S. Tax Evasion Scheme

Brockman and Smith have a business relationship dating back to the late 1990s, according to documents filed in connection with Smith’s non-prosecution agreement.

Brockman, who is referred to as “Individual A,” became an investor in Smith’s private equity fund in 2000, first with a $300 million commitment, and later increasing it to $1 billion.

As part of his non-prosecution agreement, Smith admitted to using a nominee trustee and corporate manager to hide his control in four off-shore companies. Some of his untaxed income was used to buy a vacation home in Sonoma, California, and ski properties in the Alps, and to fund charitable causes, Anderson said.

He will pay $139 million in taxes and penalties, and will abandon a $182 protective refund claim and pay interest as part of the deal.

“Although Smith willfully and knowingly violated the law, Smith has accepted responsibility and agreed to provide complete and truthful cooperation,” Anderson said.

Smith founded private equity firm Vista Equity Partners and he is listed by Forbes as being the nation’s wealthiest Black investor.

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