Bermuda Tax Evasion Penalties and Fines Soar in High-Profile Case

Controversy Surrounds Testimony of Former Lawyer

A high-profile tax evasion case in Bermuda has sparked controversy after a former lawyer testified that his billionaire client, Robert Brockman, broke no laws in the United States. Evatt Tamine, who worked for Brockman from 2004 to 2018, became a co-operating witness and granted immunity from prosecution after his home was raided by Bermuda police at the request of the US Department of Justice.

The Case Against Brockman

Brockman, 80, is facing 39 counts of tax evasion, wire fraud, and money laundering in what is being called the largest-ever tax evasion prosecution against an individual in the US. Prosecutors claim that Brockman operated a decades-long scheme using a web of offshore entities to conceal approximately $2 billion in income from the Internal Revenue Service.

Tamine’s Testimony Raises Questions

Tamine’s testimony has raised questions about the effectiveness of Bermuda’s laws against tax evasion and the island’s financial system. Critics argue that the financial system can be easily exploited by wealthy individuals, while others have criticized Bermuda’s financial authorities for not doing enough to prevent illicit activities.

Key Points from Tamine’s Testimony

• Tamine testified that Brockman did not engage in any wrongdoing and that some information in the indictment against him is factually incorrect.
• He claimed that Brockman operated a multibillion-dollar family trust in Bermuda using a web of code names, encrypted communications, and destroyed evidence to conceal his control.
• The case has raised questions about the role of offshore entities in facilitating tax evasion and money laundering.

Criticism of Bermuda’s Financial Authorities

The case has sparked criticism of Bermuda’s financial authorities for their handling of the case. Some have argued that they have not done enough to prevent the island’s financial system from being used for illicit purposes.

Ongoing Investigations

Tamine is facing potential legal problems in Bermuda and Switzerland, where related investigations are under way. The case is ongoing, with Brockman’s lawyers arguing that he is unable to stand trial due to dementia.