Monday 26 February 2018

Tax haven moguls helped Romney build fortune

Protestors hold signs and chant slogans outside of Middlesex Truck and Coach where U.S. Republican presidential candidate and former Massachusetts Governor Mitt Romney was holding a campaign event in Roxbury, Massachusetts July 19, 2012. Photo: Reuters
Protestors hold signs and chant slogans outside of Middlesex Truck and Coach where U.S. Republican presidential candidate and former Massachusetts Governor Mitt Romney was holding a campaign event in Roxbury, Massachusetts July 19, 2012. Photo: Reuters

Jon Swaine in Washington

ROBERT MAXWELL (pictured) and Jack Lyons, two of the most notorious figures in British corporate history, helped Mitt Romney build his $250m (€203m) fortune, it can be disclosed.

Mr Maxwell, the late owner of Mirror newspapers, invested $2m (€1.6m) in Mr Romney's first private equity fund, which launched the controversial career in finance that the Republican presidential challenger is now citing as proof of his ability to lead the US to prosperity.

He was recruited by Mr Lyons, a late colleague of Mr Romney at Bain & Company and one of the "Guinness Four" who were convicted in 1990 over the infamous share-trading fraud at the drinks firm. Mr Lyons and his family invested almost $3m (€2.4m) in Mr Romney's fund.

Both Mr Lyons and Mr Maxwell kept their money in tax havens.

The discovery of their financial links to Mr Romney comes amid mounting pressure on the former Massachusetts governor to disclose details of his own offshore holdings, including a Swiss bank account.(© Daily Telegraph, London).

Irish Independent

Promoted Links

Today's news headlines, directly to your inbox every morning.

Promoted Links

Editors Choice

Also in World News