Skip to main content
Black Listed News
Trending Articles:
Trending Articles:

Bain Capital started with help of offshore investors

Published: July 19, 2012
Share | Print This


Source: LA Times



WASHINGTON — When Mitt Romney launched Bain Capital in 1984, he struggled at first to raise enough money for the untested venture. Old-money families like the Rothschilds turned down the young Boston consultant.

So he and his partners tapped an eclectic roster of investors, raising more than a third of their first $37-million investment fund from wealthy foreigners.

Most of the foreign investors' money came through corporations registered in Panama, then known for tax advantages and unusual banking secrecy.

Previously unreported details, documented in Massachusetts corporate filings and other public records, show that Bain Capital was enmeshed in the largely opaque world of international high finance from its very inception.

The documents don't indicate any wrongdoing, and experts say that such financial vehicles are common for wealthy foreign investors. But the new details come as President Obama has criticized Romney for profiting from Bain Capital's own offshore investment entities, which are unavailable to most Americans.

The Romney campaign declined to comment on the specifics of Bain's early investors. Romney has argued that his offshore investments are entirely proper, and that he has paid all the U.S. taxes that he owes. The offshore funds do provide tax advantages for foreign investors, allowing Bain to attract billions of dollars.

Read More...

Share This Article...


Emigrate While You Still Can! Learn more...




SIGN UP TO GET BLACKLISTED NEWS DELIVERED RIGHT TO YOUR INBOX

More Blacklisted News...

Blacklisted Radio
Blacklisted Nation
On Twitter
On Reddit
On Facebook
Blacklisted Radio:
Podcasts on Youtube
Podcasts on Demand
Podcasts on Spreaker
Podcasts on Stitcher
Podcasts on iTunes
Podcasts on Tunein

Our IP Address:
198.245.55.242

Sponsors:
good
longboard
brands


ONNIT Labs





BlackListed News 2006-2017