A tech mogul in the United States has been indicted on charges of decades-long tax evasion, wire fraud, money laundering, and other offences in the country.

According to the indictment, Brockman -- Robert Brockman, Chief Executive Officer of Ohio-based software company Reynolds and Reynolds -- used a web of offshore entities based in Bermuda and Nevis to hide from the IRS income earned on his investments in private equity funds which were managed by a San Francisco-based investment firm.

The charges stem from an alleged decades-long scheme to conceal approximately $2 billion in income from the Internal Revenue Service (IRS) as well as a scheme to defraud investors in the software company's debt securities, the US Department of Justice said on Thursday.

If convicted, Brockman potentially faces a substantial period of incarceration, as well as restitution and criminal forfeiture.

As part of the alleged scheme, Brockman directed untaxed capital gains income to secret bank accounts in Bermuda and Switzerland.

The indictment further alleges that to execute the fraud, between 1999 and 2019, Brockman took measures such as backdating records and using encrypted communications and code words to communicate with a co-conspirator, among other alleged actions.

In addition to the tax offences, the indictment alleges that, between 2008 and 2010, Brockman engaged in a fraudulent scheme to obtain approximately $67.8 million in the software company's debt securities.

As CEO, Brockman was contractually restricted from purchasing any of the software company's debt securities without prior notice, full disclosure, and amending the associated credit agreements.

The indictment alleges that Brockman used a third-party to circumvent those requirements, to acquire the debt securities, and to conceal from the sellers valuable economic information.

The indictment further alleges that Brockman used material, non-public information about the software company to make decisions about purchasing the debt.

In addition, Brockman allegedly persuaded another individual to alter, destroy, and mutilate documents and computer evidence with the intent to impair the use of such evidence in a grand jury investigation.

In total, Brockman is charged with conspiracy; seven counts of tax evasion; six counts of failing to file foreign bank account reports; 20 counts of wire fraud affecting a financial institution; two counts of concealment money laundering, and tax evasion money laundering; and one count each of international concealment money laundering; evidence tampering, and destruction of evidence.

A tech mogul in the United States has been indicted on charges of decades-long tax evasion, wire fraud, money laundering, and other offences in the country. According to the indictment, Brockman -- Robert Brockman, Chief Executive Officer of Ohio-based software company Reynolds and Reynolds -- used a web of offshore entities based in Bermuda and Nevis to hide from the IRS income earned on his investments in private equity funds which were managed by a San Francisco-based investment firm.

A tech mogul in the United States has been indicted on charges of decades-long tax evasion, wire fraud, money laundering, and other offences in the country. According to the indictment, Brockman -- Robert Brockman, Chief Executive Officer of Ohio-based software company Reynolds and Reynolds -- used a web of offshore entities based in Bermuda and Nevis to hide from the IRS income earned on his investments in private equity funds which were managed by a San Francisco-based investment firm. The charges stem from an alleged decades-long scheme to conceal approximately $2 billion in income from the Internal Revenue Service (IRS) as well as a scheme to defraud investors in the software company's debt securities, the US Department of Justice said on Thursday. If convicted, Brockman potentially faces a substantial period of incarceration, as well as restitution and criminal forfeiture. As part of the alleged scheme, Brockman directed untaxed capital gains income to secret bank accounts in Bermuda and Switzerland. The indictment further alleges that to execute the fraud, between 1999 and 2019, Brockman took measures such as backdating records and using encrypted communications and code words to communicate with a co-conspirator, among other alleged actions. In addition to the tax offences, the indictment alleges that, between 2008 and 2010, Brockman engaged in a fraudulent scheme to obtain approximately $67.8 million in the software company's debt securities. As CEO, Brockman was contractually restricted from purchasing any of the software company's debt securities without prior notice, full disclosure, and amending the associated credit agreements. The indictment alleges that Brockman used a third-party to circumvent those requirements, to acquire the debt securities, and to conceal from the sellers valuable economic information. The indictment further alleges that Brockman used material, non-public information about the software company to make decisions about purchasing the debt. In addition, Brockman allegedly persuaded another individual to alter, destroy, and mutilate documents and computer evidence with the intent to impair the use of such evidence in a grand jury investigation. In total, Brockman is charged with conspiracy; seven counts of tax evasion; six counts of failing to file foreign bank account reports; 20 counts of wire fraud affecting a financial institution; two counts of concealment money laundering, and tax evasion money laundering; and one count each of international concealment money laundering; evidence tampering, and destruction of evidence.

Tech mogul faces largest-ever US tax evasion charge - $2 billion

John David McAfee, creator of the eponymous anti-virus software has been indicted on charges of tax evasion by the US Department of Justice (DOJ).&nbsp;

He has been arrested in Spain and is awaiting extradition.

Mcafee, who has been arrested over 22 times in past ten years is an English-American computer programmer and businessman. He founded the software company McAfee Associates in 1987 and ran it until 1994, when he resigned from the company. McAfee Associates achieved early success as the creators of McAfee, the first commercial antivirus software, and the business now produces a range of enterprise security software.

The US Justice Department announced the charges shortly after the Securities and Exchange Commission revealed it had brought civil charges against McAfee, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false and misleading. 
 
The indictment, filed under seal in June, was unsealed following his arrest in Spain where the United States is seeking to extradite him.

Mcafee posted this video in August this year and said: “Now that Ghislaine has been arrested, everyone is asking me how to avoid being collected by the authorities that might be pursuing you. Simple really — a four-step process.”

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<blockquote class="twitter-tweet">
Now that Ghislaine has been arrested, everyone is asking me how to avoid being collected by the authorities that might be pursuing you. 
 
Simple really -- a four step process: <a href="https://t.co/NaHZnSWPrx">pic.twitter.com/NaHZnSWPrx</a>
— John McAfee (@officialmcafee) <a href="https://twitter.com/officialmcafee/status/1278716550728552448?ref_src=twsrc%5Etfw">July 2, 2020</a></blockquote>
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“McAfee leveraged his fame to make more than $23.1 million in undisclosed compensation” by recommending at least seven initial coin offerings or ICOs to his Twitter followers, the Securities and Exchange Commission (SEC) said.

McAfee’s recommendations were “materially false and misleading,” in that he tried to sell “virtually worthless” cryptocurrency tokens by encouraging investors to buy the securities without disclosing his own holdings, the Securities and Exchange Commission (SEC) alleged.

(With inputs from Reuters)

John David McAfee, creator of the eponymous anti-virus software has been indicted on charges of tax evasion by the US Department of Justice (DOJ). He has been arrested in Spain and is awaiting extradition.

John David McAfee, creator of the eponymous anti-virus software has been indicted on charges of tax evasion by the US Department of Justice (DOJ). He has been arrested in Spain and is awaiting extradition. Mcafee, who has been arrested over 22 times in past ten years is an English-American computer programmer and businessman. He founded the software company McAfee Associates in 1987 and ran it until 1994, when he resigned from the company. McAfee Associates achieved early success as the creators of McAfee, the first commercial antivirus software, and the business now produces a range of enterprise security software. The US Justice Department announced the charges shortly after the Securities and Exchange Commission revealed it had brought civil charges against McAfee, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false and misleading. The indictment, filed under seal in June, was unsealed following his arrest in Spain where the United States is seeking to extradite him. Mcafee posted this video in August this year and said: “Now that Ghislaine has been arrested, everyone is asking me how to avoid being collected by the authorities that might be pursuing you. Simple really — a four-step process.” Now that Ghislaine has been arrested, everyone is asking me how to avoid being collected by the authorities that might be pursuing you. Simple really -- a four step process: pic.twitter.com/NaHZnSWPrx — John McAfee (@officialmcafee) July 2, 2020 × “McAfee leveraged his fame to make more than $23.1 million in undisclosed compensation” by recommending at least seven initial coin offerings or ICOs to his Twitter followers, the Securities and Exchange Commission (SEC) said. McAfee’s recommendations were “materially false and misleading,” in that he tried to sell “virtually worthless” cryptocurrency tokens by encouraging investors to buy the securities without disclosing his own holdings, the Securities and Exchange Commission (SEC) alleged. (With inputs from Reuters)

Computer anti-virus creator John McAfee arrested in Spain on US tax evasion charges

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Tech mogul faces largest-ever US tax evasion charge - $2 billion

Computer anti-virus creator John McAfee arrested in Spain on US tax evasion charges