Stay Curious. Stay Connected.
MailNewsletters♡Donate Now
Sign up
*Password must be at least 8 characters and contain one uppercase letter, one lowercase letter, one number and one symbol.
Already have an account?
By submitting, you consent that you are at least 18 years of age and to receive information about MPR's or APMG entities' programs and offerings. The personally identifying information you provide will not be sold, shared, or used for purposes other than to communicate with you about MPR, APMG entities, and its sponsors. You may opt-out at any time clicking the unsubscribe link at the bottom of any email communication. View our Privacy Policy.
Sign in to your profile
Forgot Password?
New to MPR News?
Welcome back
to news
for you
Reset Password

Enter the username on file and we'll send you a code to reset your password.

Still require assistance or not sure what your User Name is?
Welcome back
to news
for you
Email Verification

A verification code has been emailed to

Still awaiting the code?

Romney offshore accounts contain up to $32 million

Go Deeper.

Create an account or log in to save stories.

Log inCreate a free Account

Like this?

Thanks for liking this story! We have added it to a list of your favorite stories.

Show me!

By STEPHEN BRAUN and STEPHEN OHLEMACHER
Associated Press

WASHINGTON (AP) — An Associated Press examination of financial records of Mitt Romney shows that the Republican presidential candidate has offshore-based investments worth between $7 million and $32 million.

Offshore accounts are often used legitimately by private equity firms to attract foreign investors. Tax experts say offshore accounts also enable wealthy investors to defer paying U.S. taxes on some assets.

The AP analysis found at least six funds set up in the Cayman Islands. The small Caribbean island chain has long been used as a base for international investments because of its low tax rates and financial secrecy.

Romney has acknowledged that some of his investments are based in the Caymans, but he has not identified specific accounts and amounts. There is no indication he uses the accounts to dodge U.S. tax obligations.

(Copyright 2012 by The Associated Press. All Rights Reserved.)