Robert Brockman Explained

Robert Brockman
Birth Name:Robert Theron Brockman
Birth Date:28 May 1941
Birth Place:St. Petersburg, Florida, U.S.
Nationality:American
Alma Mater:Centre College
University of Florida
Occupation:Businessman
Parents:Alfred Eugene Brockman
Pearl Brockman

Robert Theron Brockman (May 28, 1941 – August 5, 2022) was an American billionaire businessman and once CEO of Ohio-based Reynolds & Reynolds software company.

Early life and education

Brockman was born in St. Petersburg, Florida. His father Alfred Eugene Brockman was a gas-station owner, and his mother, Pearl, was a physiotherapist. Thomas David Brockman was his brother.

Brockman briefly attended Centre College in Danville, Kentucky. He later graduated summa cum laude from the University of Florida in 1963, and was a member of its business honor society.[1]

Career

Brockman started his career in 1964 as a marketing trainee with Ford Motors, and was a Marine Corps reservist at the same time. From 1966 to 1970, he worked at IBM and was the leading U.S. salesman in IBM's service bureau.

Brockman founded Universal Computer Systems, a computer systems and software provider for car dealerships, in 1970 in his living room. The company sold its first in-dealership computer system in 1982.[2] In the late 1980s, Brockman introduced what remains one of his core software operating systems, called Power.[3]

The company merged with Reynolds & Reynolds on August 8, 2006. He became the CEO after the merger.[4]

Tax fraud charges

A 39-count indictment was filed against Brockman in September 2020 in the Northern District of California.[5] Brockman was accused of engaging in a 20-year long scheme to hide around $2 billion in income from the IRS. His charges included tax evasion, wire fraud, money laundering, and failure to disclose assets held overseas.[6] [7] Brockman pleaded not guilty, and was released on a $1 million bond.[8] In October 2021, Brockman was among those listed in the Pandora Papers revelations, which exposed offshore tax shelters of the financial assets of hundreds of politicians, business people, and celebrities.

Brockman was later placed under an IRS assessment targeting taxpayers who may flee. In March 2022, he offered to put up $1.45 billion to relax IRS liens on his property and assets.[9] In May 2022, he was ruled mentally competent to stand trial by Judge George C. Hanks Jr. of the United States District Court for the Southern District of Texas.[10]

Brockman was an investor in Vista Equity Partners. Its founder Robert F. Smith reached a non-prosecution agreement with the United States Department of Justice, agreeing in October 2020 to assist the DOJ in a case against Brockman who was charged that month with what the DOJ called the "largest ever" tax fraud scheme by a U.S. citizen, and to pay a fine of $139 million.[11] [12] [13] [14] [15] [16] [17] [18]

Personal life

Brockman married at age 18 in Kentucky, and later divorced. He married Dorothy Kay Brockman in 1968; the couple lived in Houston. He was a very private individual and refused public interviews.[2]

Brockman owned a Bombardier private jet, a 209-foot yacht named Turmoil, a 17,000-sq.ft. residence in Houston, and a 5,800-square-foot cabin in Aspen, Colorado.[19]

He was a prolific donor to Republican groups and causes.[20] [21]

On August 6, 2022, Brockman's attorney Kathy Keneally confirmed that he had died the previous day. He was 81 years old.[22] Before his death, Brockman had been diagnosed with dementia.[23]

Philanthropy and board memberships

In July 2013, Centre College in Danville, Kentucky announced that it had received a $250 million donation from Brockman's charitable trust. This donation was later withdrawn, when a "significant capital market event", upon which the gift was contingent, did not occur.[24] [25] [26]

Brockman donated money to, and has two named buildings on the campus of, Rice University in Houston. He was also on the Council of Overseers of the Jesse H. Jones Graduate School of Business.[27] [28]

He served on the Board of Trustees of Centre College and Baylor College of Medicine.[29] [30]

Notes and References

  1. News: 2022-08-06. Robert Brockman, Software Developer Who Fought IRS, Dies. en. Bloomberg.com. 2022-08-20.
  2. News: Kisiel . Ralph . Mystery man behind merger . March 13, 2021 . . September 4, 2006 . en.
  3. News: Helman . Christopher . The Manipulative, Little Known Billionaire Who Nearly Ruined The Country's Richest Black Person . 5 April 2024 . Forbes . 5 February 2021 . en.
  4. Hiers . Trey . Reynolds and Reynolds Shareholders Approve Merger With Universal Computer Systems . March 13, 2021 . . October 24, 2006.
  5. Brockman Indictment: CEO of Multibillion-dollar Software Company Indicted for Decades-long Tax Evasion and Wire Fraud Schemes . October 1, 2020 . 1–40 . March 13, 2021 . . San Francisco.
  6. News: Voreacos . Neil . Weinberg . David . Houston Tech Mogul Indicted for 'Largest-Ever Tax Charge' . March 13, 2021 . . October 15, 2020 . en.
  7. News: Duffy . Clare . Software CEO Robert Brockman charged in $2 billion tax evasion case . March 13, 2021 . . October 17, 2020.
  8. News: Michaels . Gottfried . Miriam . Dave . Houston Software Executive Robert Brockman Charged With Tax Evasion . March 13, 2021 . . October 15, 2020.
  9. News: Voreacos . David . Billionaire Robert Brockman Offers to Put Up $1.45 Billion to Ease IRS Liens . June 21, 2022 . . March 18, 2022 . en.
  10. News: Ivanova . Irina . Billionaire Robert Brockman ruled competent to stand trial in biggest individual tax fraud case . June 21, 2022 . . May 25, 2022.
  11. News: Helman . Christopher . The Manipulative, Little Known Billionaire Who Nearly Ruined The Country's Richest Black Person . March 13, 2021 . . February 5, 2021 . en.
  12. News: Saunders . Laura . The IRS Reels in a Whale of an Offshore Tax Cheat—and Goes for Another . March 13, 2021 . . October 23, 2020.
  13. News: Primack . Dan . Billionaire philanthropist Robert Smith's tax fraud roils Vista Equity . March 13, 2021 . . October 16, 2020 . en.
  14. Web site: Offshore havens and hidden riches of world leaders and billionaires exposed in unprecedented leak . . October 3, 2021 . October 4, 2021. en-US.
  15. Web site: Robert Brockman, billionaire charged in tax evasion case, dies at 81. Ken Dilanian. August 7, 2022. Yahoo News.
  16. News: Voreacos. David. Weinberg. Neil. 15 October 2020. Houston Tech Mogul Indicted for 'Largest-Ever Tax Charge'; Robert Brockman is accused of hiding $2 billion offshore. Bloomberg. 17 October 2020.
  17. Web site: Primack. Dan. Billionaire philanthropist Robert Smith's tax fraud roils Vista Equity. 2020-10-17. Axios. October 16, 2020 . en.
  18. Web site: Rogers. Taylor Nicole. Read the full letter private equity titan Robert F. Smith sent to investors about his $139 million tax evasion settlement. October 16, 2020. 2020-10-17. Business Insider.
  19. News: Maremont . Mark . Miriam . Gottfried . The Billionaire Behind the Biggest U.S. Tax Fraud Case Ever Filed . March 13, 2021 . . March 3, 2021.
  20. News: Murphy . Tim . 3 Companies, 1 PO Box, and a $1 Million Super-PAC Gift . March 13, 2021 . . June 20, 2012.
  21. News: Schwartz . Brian . GOP groups quiet as billionaire donor stands accused of running biggest tax fraud scheme ever . March 13, 2021 . . March 5, 2021 . en.
  22. Web site: Robert Brockman, billionaire charged in $2 billion tax evasion case, dies at 81. NBC News. Ken. Dilanian. August 6, 2022. August 7, 2022.
  23. News: Voreacos . David . Weinburg . Neil . Robert Brockman, Software Developer Who Fought IRS, Dies at 81 . August 7, 2022 . Bloomberg . August 6, 2022.
  24. News: Lattman . Peter . A $250 Million Pledge to a College Evaporates as a Deal Collapses . March 13, 2021 . . September 9, 2013 . en.
  25. News: Rivard . Ry . Centre College loses huge donation . March 13, 2021 . . September 10, 2013 . en.
  26. News: Maheshwari . Bobby . Allyn . Sapna . How A Reclusive Texas Billionaire Took Back The Biggest-Ever Donation To A Liberal Arts College . March 13, 2021 . . October 1, 2013 . en.
  27. Web site: Robert T. Brockman . Jones Graduate School of Business at Rice University . March 13, 2021 . en.
  28. News: Leibrock . Skye . Fredericks . Keegan . Prominent Rice Donor Charged in Multi-Billion Dollar Tax Fraud Case . March 13, 2021 . . October 27, 2020.
  29. News: Hart . Robin . Centre life trustee charged in $2 billion tax fraud scheme . March 13, 2021 . . October 20, 2020.
  30. News: Baylor College of Medicine appoints new board chairman . March 13, 2021 . . May 22, 2006.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Robert Brockman".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.