US tycoon who pledged millions for Black students admits tax fraud

New York (AFP) – Billionaire businessman Robert Smith, who made headlines last year by promising to pay off school loans taken on by hundreds of Black students, has reached a deal with US authorities to stave off prosecution for tax fraud.He will pay $140 million to tax authorities as part of the arrangement, the Justice Department said in a statement Thursday.Smith, the Black CEO of the investment firm Vista Partners, is accused of hiding revenue from 2000 to 2015 to avoid paying millions in taxes.He has admitted doing this with offshore accounts in Belize and St. Kitts and Nevis, in the Cari…

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