LOL. That’s a funny meme. Thanks for the chuckle.
A couple of loose ends that may or may not tie in with the money laundering case. I wonder who else they may be able to incriminate?
Robert T. Brockman, the chief executive officer of Reynolds & Reynolds, an Ohio-based software company, was charged with tax evasion, wire fraud, money laundering and several other charges, by a California federal grand jury in a 39-count indictment. Brockman used a number of offshore entities in Bermuda and Nevis to hide income he earned through investments in private equity funds, according to the indictment.
Though unnamed by the DOJ, the Washington Post reported that Robert F. Smith, the founder of San Francisco-based private equity fund Visa Equity Partners, helped Brockman to hide the income in these offshore accounts. Smith is well-known for pledging to eliminate $34 million in student loan debt for Morehouse College’s 2019 graduating class, and announced additional initiatives to help erase student loan debt for graduates from historically black colleges and universities (HBCUs) earlier this year.
The DOJ also announced that Smith had entered into a non-prosecution agreement in exchange for his cooperation. Under the agreement, Smith will have to pay more than $139 million in taxes and penalties.