Romney's Wife Had-$3 Million-In Secret Swiss Account Thru 2012-NOT-Reported In Fed Disclosure Forms [View all]

[kpete]

Romney’s Wife Had $3 Million in Secret Swiss Bank Account Through 2010; Not Reported in Federal Disclosure Forms
Remember how peculiar it was that presidential candidate Mitt Romney refused to release his tax returns? That was predictably a non-starter. Most voters probably assume the reason he resisted was to avoid the controversy over his strikingly low tax rate.

Another factor appears to have played into this decision. The release of the tax returns shows Romney neglected to disclose some required financial information in his personal disclosure form filed with the Office of Government Ethics last year. His team apparently timed the release of his tax records with the hope that State of the Union hooplah would dominate news coverage and result in his finances getting less attention than they might otherwise. And that appears to been correct. His failure to divulge information about 23 investments, and more important his use of secret Swiss bank accounts, has been given a free pass. As Citizens for Responsibility and Ethics in Washington director Melanie Sloan observed, “Mr. Romney says the errors are minor, but then again he also claims earning $374,000 in speaking fees isn’t much money.”
http://www.nakedcapitalism.com/2012/02/romneys-wife-had-3-million-in-ubs-unit-closed-for-helping-us-citizens-evade-taxes.html


FRI FEB 03, 2012 AT 12:36 PM PST
Ann Romney: $3M Swiss Bank Account for fun and pleasure
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From the LA Times

An examination by the Los Angeles Times/Tribune Washington Bureau found that at least 23 investments detailed in the couple's 2010 tax returns did not show up or were not listed in the same fashion on Romney's most recent financial disclosure, including 11 based in low-tax foreign countries such as Bermuda, the Cayman Islands and Luxembourg.
(my emphasis)

Among the assets omitted is a Swiss bank account in Ann Romney's blind trust that held $3 million until it closed in 2010. The account was listed on a financial disclosure Romney filed in 2007, but it was mistakenly named as an asset held by the couple, not as part of Ann Romney's trust. A campaign spokeswoman said Thursday that Romney will file amendments to both his 2007 and 2011 financial disclosures to correctly identify the bank account.

The Romney campaign dismissed the omission of information as inadvertent and inconsequential, noting he has released more than 600 pages of details about his finances. Indeed, among the hundreds of investments listed on his recent financial disclosure are many foreign funds.

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MORE:
http://www.dailykos.com/story/2012/02/03/1061518/-Ann-Romney:-$3M-Swiss-Bank-Account-for-fun-and-pleasure?via=siderec