Robert Smith, the Texas billionaire who last year promised to pay off the debt of the graduating class of Morehouse College, has admitted to tax evasion through an illegal scheme that used offshore banks for 15 years, prosecutors said on Thursday. The US Justice Department said Mr Smith, 57, entered into a Non-Prosecution Agreement for his involvement in the...
Full ArticleRobert Smith: Billionaire who promised to pay off students' debt admits to tax fraud
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A billionaire that vowed to pay off the debt of an entire college class will pay $140 million to settle a four-year tax probe, a report says
Billionaire Robert Smith will admit misconduct but will not be prosecuted, Bloomberg reported, citing confidential sources.
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