Mittzie mum on multimillions

[Guns Guns Guns]

For all Mitt Romney’s touting of his business record, when it comes to his own money, the Republican is remarkably shy about disclosing numbers...

BURIED TREASURE Grand Cayman, where Bain Capital maintains at least 138 funds



As Newt Gingrich put it, “I don’t know of any American president who has had a Swiss bank account.”


But Romney has, as well as other interests in such tax havens as Bermuda and the Cayman Islands.


To give but one example, there is a Bermuda-based entity called Sankaty High Yield Asset Investors Ltd., which has been described in securities filings as “a Bermuda corporation wholly owned by W. Mitt Romney.”


That’s not the only money Romney has in tax havens.


Because of his retirement deal with Bain Capital, his finances are still deeply entangled with the private-equity firm that he founded and spun off from Bain and Co. in 1984.


Though he left the firm in 1999, Romney has continued to receive large payments from it—in early June he revealed more than $2 million in new Bain income.


The firm today has at least 138 funds organized in the Cayman Islands, and Romney himself has personal interests in at least 12, worth as much as $30 million, hidden behind controversial confidentiality disclaimers.


Come August, Romney, with an estimated net worth as high as $250 million (he won’t reveal the exact amount), will be nominated for president.


Given his reticence to discuss his wealth, it’s only natural to wonder how he got it, how he invests it, and if he pays all his taxes on it.






http://www.vanityfair.com/politics/...YouSeeWhereTheMoneyLivesByVanityFair-misc-HQB

 

[Guns Guns Guns]

For nearly 15 years, presidential candidate Mitt Romney's financial portfolio has included an offshore company that remained invisible to voters as his political star rose.


Sankaty High Yield Asset Investors Ltd. was not listed on any of Romney's state or federal financial reports.


The company is among several Romney holdings that have not been fully disclosed, including one that recently posted a $1.9 million earning — suggesting he could be wealthier than the nearly $250 million estimated by his campaign.



The omissions were permitted by state and federal authorities overseeing Romney's ethics filings, and he has never been cited for failing to disclose information about his money.


Romney's limited disclosures deprive the public of an accurate depiction of his wealth and a clear understanding of how his assets are handled and taxed, according to experts in private equity, tax and campaign finance law.


The Romneys' ownership of the offshore firm did not appear on any state or federal financial reports during Romney's two presidential campaigns.


Only the Romneys' 2010 tax records, released under political pressure earlier this year, confirmed their continuing control of the company.



Sankaty is the only offshore holding in the Romneys' portfolio under their full control.


On his 2010 taxes Romney's blind trust filed an IRS form identifying Sankaty as a "controlled foreign corporation."


That filing is required for any U.S. taxpayer who owns more than 50 percent of a foreign company.


Romney's 2010 tax returns indicate that he and his wife control all 12,000 shares.



Several U.S. Securities and Exchange documents from the late 1990s and 2000s depicted Romney as Sankaty's owner at the time, but when he ran for Massachusetts governor in 2001 and 2002, Romney did not list the company on annual disclosure forms...


Romney has said he gets no tax break.


He told an audience at a town hall appearance that "I have not saved one dollar by having an investment somewhere outside this country."


But the lack of disclosure over the years, private equity experts said, makes it impossible to tell.




http://www.newsday.com/news/nation/assests-offshore-hint-at-larger-romney-wealth-1.3820979

 

[Howey]

Romney mum on where his money is...

For all Mitt Romney’s touting of his business record, when it comes to his own money the Republican nominee is remarkably shy about disclosing numbers and investments. Nicholas Shaxson delves into the murky world of offshore finance, revealing loopholes that allow the very wealthy to skirt tax laws, and investigating just how much of Romney’s fortune (with $30 million in Bain Capital funds in the Cayman Islands alone?) looks pretty strange for a presidential candidate.

Continued at link...

 

[Guns Guns Guns]

Romney mum on where his money is...Continued at link...

Is multimillionaire Mittzie hiding something?