Romney steered clients toward tax shelters in the Cayman Islands

Romney steered clients toward tax shelters in the Cayman Islands

WASHINGTON, USA: Earthtimes, December 18, 2007 – According to a Los Angeles Times investigation of Romney’s tenure at Bain Capital, Mitt “utilized shell companies in two offshore tax havens to help eligible investors avoid paying US taxes.” Romney steered clients toward tax shelters in the Cayman Islands and Bermuda, helping “attract billions of additional investment dollars to Romney’s former company, Bain Capital, and thus boosted profits for Romney and his partners.”

Not only was Romney “listed as a general partner and personally invested in BCIP Associates III Cayman, a private equity fund that is registered at a post office box on Grand Cayman Island,” he “still retains an investment in the Cayman fund through a trust.” That investment earned Romney “more than $1 million last year in dividends, interest and capital gains.”

http://www.caymannetnews.com/news-4274--1-1--.html

I hope he wins the nomination.