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Robert F. Smith reportedly under federal investigation for potential tax crimes
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Robert F. Smith, the billionaire investor who pledged to pay off the student debt of Morehouse College's graduating class last year, is under investigation by the Justice Department for possible tax crimes.


Smith is the co-founder, chairman and CEO of the private equity and venture capital firm Vista Equity Partners, which has an office in downtown Austin.

Bloomberg reported Friday that federal authorities have spent four years examining whether Smith failed to pay taxes on about $200 million in assets by moving them through offshore accounts.

Smith is trying to resolve the case with a civil settlement, according to Bloomberg, but if convicted he could be sentenced to prison and forced out of his firm.

Smith's profile has increased in the last few years. He married his second wife, former Playmate of the Year Hope Dworacyzk, in 2015, and became the first Black American to sign the Giving Pledge, a campaign founded by Warren Buffett and Bill Gates to get billionaires to pledge at least half of their wealth to philanthropic causes.

In May of 2019, Smith gave the commencement address at Morehouse College, a historically black men's college in Atlanta, and announced he would pay off the student loans of the roughly 400 graduates.

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A mortgage banker walks us through the math on purchasing a 'mid-price' Austin home
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So you want to buy a house?

To anyone trying to get on the "housing ladder," it's been a discouraging couple of years as prices skyrocketed in a market crowded with buyers bidding against each other for just about any available home.

Things may be calming down, with the Austin Board of REALTORS reporting fewer sales and more available homes this summer.

Mortgage rates have more than doubled in the last year, from around 3% to well over 6% on a 30-year fixed rate loan, getting even more of a bump this week after the Federal Reserve raised bank rates on Wednesday.

So how affordable are homes right now? That, of course, depends on what you want and how much you're able or willing to pay, but here are some rough estimates of what a typical buyer would pay to buy a $650,000 home, which would be considered "mid-price" in today's market.

Mortgage banker Chris Holland (NMLS 211033) of Austin's Sente Mortgage ran some numbers for Austonia to illustrate a typical purchase.

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Fall camping: Camp Fimfo Waco offers one-of-a-kind experiences in the heart of Texas
Camp Fimfo Waco

Camp Fimfo Waco, a brand new camping resort, is kicking off football and fall camping season in style! With top-notch amenities, premium accommodations, and 10 weekends of fall fun, there’s no better place to have a fall camping getaway, especially if you’re a Baylor football fan!

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