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Report: Romney Hides Millions Through Tax Havens

HeadlineJan 19, 2012

Republican presidential hopeful Mitt Romney continues to face scrutiny over his vast personal fortune ahead of the South Carolina primary. ABC News has revealed Romney has hidden tens of millions of dollars in offshore tax havens in the Cayman Islands. Romney is said to have invested more than $33 million in more than a dozen funds listed in the Caymans, while his former company, Bain Capital, holds 138 accounts there. Although Romney would still pay U.S. taxes on any investment income, the use of the tax havens would grant him other financial benefits including greater foreign investment.

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