Menendez Grills Mnuchin: Weren’t You Helping Your Clients Avoid Paying Taxes?

EXCERPT:

MENENDEZ: "And yet you did not answer in that questionnaire listing your position as director of the Cayman Islands corporation, as manager, chairman, and director of eight additional shell corporations and holding companies, and nearly $100 million in real estate. And that questionnaire was corrected only after the committee staff, having done their due diligence, brought the missing information to your attention. Now, after that, you admitted to being the director of the offshore entity, doing Capital International Limited, a Cayman Island corporation. You admitted to moving your hedge fund, Dune Capital Partners LLC offshore to Anguilla in 2005, even though all the business was conducted in New York City. So I have a ton of other questions on policy, but first and foremost is truth and veracity, what the Americans need in their Treasury secretary, to know if they are going to be asked to do difficult things or challenging things that they understand that there is a system. In essence, isn’t it true that what you did here is take these companies, put them offshore, so you could help your clients, who you were making money from, avoid U.S. taxation?"