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In reply to the discussion: Romney defends Swiss bank account [View all]sad sally
(2,627 posts)from the Vanity Fair article:
One cannot properly understand Wall Streets size and power without appreciating the central role of offshore tax havens. There is absolutely no evidence that Bain has done anything illegal, but private equity is one channel for this secrecy-shrouded foreign money to enter the United States, and a filing for Mitt Romneys first $37 million Bain Capital Fund, of 1984, provides a rare window into this. One foreign investor, of $2 million, was the newspaper tycoon, tax evader, and fraudster Robert Maxwell, who fell from his yacht, and drowned, off of the Canary Islands in 1991 in strange circumstances, after looting his companys pension fund. The Bain filing also names Eduardo Poma, a member of one of the 14 families oligarchy that has controlled most of El Salvadors wealth for decades; oddly, Poma is listed as sharing a Miami address with two anonymous companies that invested $1.5 million between them. The filings also show a Geneva-based trustee overseeing a trust that invested $2.5 million, a Bahamas corporation that put in $3 million, and three corporations in the tax haven of Panama, historically a favored destination for Latin-American dirty moneyone of the filthiest money-laundering sinks in the world, as a U.S. Customs official once put it.