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Lew: I ‘Didn’t Know’ My Money Was Invested in the Cayman Islands



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Prospective Treasury Secretary Jack Lew on Wednesday said he “didn’t know” that a venture capital fund in which he held a $56,000 investment was based in the Cayman Islands.

As an employee of Citigroup, Lew invested in a Citigroup fund based out of the Ugland House, a notorious building in the Cayman Islands that President Obama once suggested was home to “the largest tax scam in the world.” Lew said he was “not familiar” with the Ugland House or with the fact that the fund was located in the Cayman Islands, but simply that he “was aware that it was an international fund.”

Obama and other Democrats attacked Republican opponent Mitt Romney throughout the 2012 presidential campaign for his investments in Cayman Island funds.

 


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