Did Mitt Romney and Bain Capital Hide Offshore Holdings?

More questions than answers

Paul Sancya of the Associated Press is reporting yet another question about Mitt Romney

By James Turnage

Romney has been involved in an offshore company for over fifteen years that has been kept from the public eye. Sankaty High Yield Asset Investors, Ltd., has never been listed in any federal or state financial reports. This and several other holdings have never been reported, including one that had a reported earnings of 1.9 million dollars. This suggests that Mr. Romney could be worth far more than the reported 250 million by his campaign.

He has never been cited for tax code violations, claiming these assets are below the required amount necessary to reveal them. However, at the least, he has not fully disclosed to the voters his actual assets and therefore his personal wealth.

What makes this more interesting, and a little suspicious, is that Sankaty was transferred to a trust owned by Romney’s wife, Ann, one day before he was sworn in as the governor of Massachusetts in 2003, according to Bermuda records. Romney’s interests in the company were not disclosed in any federal returns or in any other campaign. When forced by political pressure, they were finally disclosed in his tax records in 2010.

Sankaty was a member of a cluster of hedge funds run by Bain Capital, which Romney retained until 1999. The offshore company was used in Bain’s one billion dollar takeover of Domino’s Pizza and other multi-million dollar investments over a decade ago.

Romney’s aides have declined to offer specific details, maintaining that the assets of the offshore investment yielded no more than 10,000 dollars in assets and liabilities.

3 Responses to "Did Mitt Romney and Bain Capital Hide Offshore Holdings?"

  1. randy77   July 5, 2012 at 1:26 pm

    To understand how media slants, see my article. Search randy rose at the top of this page.

    Reply
  2. james church   July 4, 2012 at 11:21 pm

    he also hasn’t told you,that he signed a pledge with GROVER NORQUIST that he would never(even in time of war)raise taxes, unless Norquist approved. It takes two to make a decision. He says that he will not raise taxes, but doesn’t tell about his pledge!!!

    Reply
  3. Chas Holman   July 4, 2012 at 10:33 pm

    So Governor Romney has been running around (the Governor himself, NOT just his aid… sheesh) for 2 days DEMANDING it WAS’T a tax (while his little minions in the GOP were prancing around DEMANDING it was).

    Is anyone surprised that Governor Romney has ZERO convictions on ANYTHING?

    They call him ‘etch a sketch’ but to me he is more like a mixture of silly putty and weather-vane..Totally goofy and any which way the wind blows.

    I mean at what point does even his most ardent supporters say ‘this is just getting pathetic, the whole darn camaign’?

    Anything to get the Christian guy out of office.

    Reply

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