The rich are different: An unsealed affidavit shows where Denver native Robert Smith spent untaxed billions.
, who allegedly helped Smith conceal over $200 million in capital gains income over a fifteen-year period, highlights where Smith was spending that money.
The tax evasion scheme detailed in the affidavit involved an array of offshore accounts and even a Smith in-law who lived in the United Kingdom to help evade U.S. tax authorities., indicates that Smith, a 59-year-old who grew up in Five Points, spent millions of dollars that went untaxed to purchase property and luxury homes around the globe. Although the federal government had previously revealed some of these expenditures, the affidavit goes into much more detail.
Five years later, Smith bought two ski condos and a downtown nightclub/restaurant in Megève, a ski resort village in the French Alps, through accounts associated with the tax evasion scheme, the affidavit states. And instead of reporting that he had used his own income to pay for these purchases, Smith said that he had been paying rent on them — to an entity that he owned, according to the document.
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