Business
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
3 monthes ago | By Business Insider
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Billionaire Robert Smith will pay $140 million to settle a four-year tax investigation, Bloomberg reported Wednesday.
The CEO of private equity firm Vista Equity Partners will admit misconduct, but will not be prosecuted, sources told Bloomberg.
The settlement amount, which is expected to be made public as early as Thursday, includes back taxes, penalties and interest.
Bloomberg reported in August Smith had been the subject of a four-year investigation by the Justice Department and Internal Revenue Service into outstanding taxes on $200 million in assets.
Smith hit...
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