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Report: Bain Documents Reveal Tax Havens, Romney Investments Report: Bain Documents Reveal Tax Havens, Romney Investments

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The Trail: 2012 Presidential News from the Field

CAMPAIGN 2012

Report: Bain Documents Reveal Tax Havens, Romney Investments

A Washington Post review of more than 900 pages of documents released by Gawker.com on Thursday reveals new details of investments that Mitt Romney holds in several Bain Capital funds, as well as details of the company’s investments in foreign tax havens like the Cayman Islands.

The documents show that Bain used “blocker” companies based in the Cayman Islands to protect nonprofit clients and foreign investors from U.S. taxes, according to The Post.

 

The blockers can also be used to protect IRA accounts, and Romney has IRA investments in Bain entities located in the Caymans. But the documents don’t offer evidence that Romney receives tax benefits from these blockers, The Post reports.

A campaign spokesman said Romney has no control over the investments of his assets.

“Governor and Mrs. Romney’s assets are managed on a blind basis,” campaign spokeswoman Michele Davis told The Post. “They do not control the investment of these assets, the investment decisions are made by a trustee. Furthermore, the trustee does not decide where funds he invests in are domiciled, the sponsors of the funds do.”

 

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