* Background is here and here. From the Tribune…
Rauner also bristled when asked about his personal and family foundation investments in offshore tax havens following a Tribune report Wednesday dealing with the financial holdings of the governor and Pritzker. The Tribune found that Rauner’s family foundation invested more than $10 million in a Cayman Islands fund after he became governor, that he has personal investments in three offshore funds, and that his former private equity firm was a “top client” of a major law firm that provides offshore legal services.
Asked if it was hypocritical to attack Pritzker’s offshore holdings while also having money parked offshore, Rauner sought to distance his “tiny” financial dealings from Pritzker’s more extensive investments.
Rauner defended his personal offshore investments, which includes two funds registered at the Ugland House in Grand Cayman, the listed address for thousands of companies and investment funds. Former President Barack Obama once criticized the place as a tax haven.
“I have investments all over the world, but mostly in America, and what I don’t do is cheat on my taxes,” Rauner said.
Pritzker has said money from the offshore trusts goes to his charity, the Pritzker Family Foundation. He also has said his trusts have paid tens of millions of dollars in state and federal taxes.