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Did Romney and Bain benefit from Death Squad Money?

Mark In Irvine 2012/08/09 17:27:27
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  • t.eliot, topbard 2012/08/09 17:46:40
    Sure looks like he and it did.
    t.eliot, topbard
    +1
    When you're involved in making money as your raison d'etre, this sort of stuff is inevitable.
  • Sam DePecan 2012/08/09 17:35:47
    None of the above
    Sam DePecan
    +1
    "They" are also saying that George W. Bush went up to New York City and assaulted several Orhpanages, and stole all of the Oil that the little Orphans had saved-up, and perhaps some of the Orphans might have even been blind. IDK.
  • Mark In... Sam DeP... 2012/08/09 17:50:17
    Mark In Irvine
    I loathe Dubya, but I doubt even HE would do something like this ...

    oh wait, you're teasing, aren't you!

    ha ha ha!!

    back in the day, I fell prey to a small case of "Bush Derangement Syndrome"

    http://en.wikipedia.org/wiki/...

    ... fortunately, i got over it quickly ...
  • Jester M.S. 2012/08/09 17:33:55
    None of the above
    Jester M.S.
    +1
    Not to be rude, but I refuse to read the Huffington Post, News Busters, Think Progress, World Net Daily, or any other such publication. Do you have a citation from a legitimate print media outlet (non-editorial) that I can read on the subject? If so, I would be glad to read it.

    I just read the WSJ this morning and I saw no mention of it.
  • Mark In... Jester ... 2012/08/09 17:36:09
    Mark In Irvine
    +1
    I'll see what I can do about finding a different source for this ...
  • Jester ... Mark In... 2012/08/09 17:37:06
    Jester M.S.
    +1
    Excellent
  • Mark In... Jester ... 2012/08/09 17:47:38
    Mark In Irvine
    +1
    ========================
    But early on, the fundraising was still falling short. HARRY STRACHAN, A BAIN CAPITAL PARTNER who was born in Costa Rica to American missionary parents, knew Central American businessmen through his involvement in a Harvard-backed business school in Nicaragua. Why not pitch to them?

    Romney and Bill Bain were initially "terrified of bringing in Central Americans," Strachan told the Boston Globe in August 1994. "They were afraid of drug money."

    Reassured by Strachan, Romney flew to Miami to meet the group in 1984.

    "My friends were impressed by Mitt and the team and signed up for 20% of the fund," Strachan wrote in his self-published memoir, "Finding a Path." He did not respond to requests for comment.

    The group included some of El Salvador's wealthiest people: coffee grower Miguel A. Dueñas; members of the De Sola family, also coffee exporters; and Ricardo Poma, whose family conglomerate now owns car dealerships and luxury hotels across Central America. Other investors included Frank Kardonski, who co-founded the Panama Stock Exchange, and Diego Ribadeneira, nowEcuador'sambassador to Peru.

    Most of the money they put into Bain Capital was through corporations set up in Panama with names such as Velof Trust, Jolla and Universal Selling Co.

    In the 1980s, Panama wa...



































    ========================
    But early on, the fundraising was still falling short. HARRY STRACHAN, A BAIN CAPITAL PARTNER who was born in Costa Rica to American missionary parents, knew Central American businessmen through his involvement in a Harvard-backed business school in Nicaragua. Why not pitch to them?

    Romney and Bill Bain were initially "terrified of bringing in Central Americans," Strachan told the Boston Globe in August 1994. "They were afraid of drug money."

    Reassured by Strachan, Romney flew to Miami to meet the group in 1984.

    "My friends were impressed by Mitt and the team and signed up for 20% of the fund," Strachan wrote in his self-published memoir, "Finding a Path." He did not respond to requests for comment.

    The group included some of El Salvador's wealthiest people: coffee grower Miguel A. Dueñas; members of the De Sola family, also coffee exporters; and Ricardo Poma, whose family conglomerate now owns car dealerships and luxury hotels across Central America. Other investors included Frank Kardonski, who co-founded the Panama Stock Exchange, and Diego Ribadeneira, nowEcuador'sambassador to Peru.

    Most of the money they put into Bain Capital was through corporations set up in Panama with names such as Velof Trust, Jolla and Universal Selling Co.

    In the 1980s, Panama was "the country of choice for foreigners wanting to make investments on a confidential basis," said Steven H. Hagen, a Miami lawyer who provides tax advice to offshore companies and international investors.

    The use of an offshore corporation to invest in a U.S. business shields foreign investors from estate taxes, but not income taxes, Hagen said.

    At the time, El Salvador was being torn apart in a civil war that ultimately left tens of thousands dead. The Bain investors — some of whom had their plantations seized and family members targeted — were waiting out the war in Miami.

    "Many of them were trying to move their money elsewhere," said Jeffery M. Paige, a University of Michigan professor who wrote a book about the Salvadoran ruling class. "It was a difficult transition, and of course their investment outlets were limited."

    Among the Bain investors were Francisco R.R. de Sola and his cousin Herbert Arturo de Sola, whose brother Orlando de Sola was suspected by State Department officials and the CIA of backing the right-wing death squads, according to now-declassified documents.

    Orlando de Sola, who has denied supporting the death squads, is now serving a four-year prison term for unrelated fraud charges. In an interview at the prison in Metapan, El Salvador, he said he did not benefit from the family investment in Bain Capital.

    Before Bain, the family's holdings were based in El Salvador, he said. "I would say their relationship with Bain Capital was a step to diversify into foreign investments. But I insist to you, I was not part of it."

    The other Latin American investors declined or did not respond to requests to comment.
    ========================

    capitalization in first sentence added by MII

    quoted material between === and === excerpted from:

    "Bain Capital started with help of offshore investors"
    July 19, 2012|By Joseph Tanfani, Melanie Mason and Matea Gold
    http://articles.latimes.com/2...

    joseph.tanfani@latimes.com

    melanie.mason@latimes.com

    matea.gold@latimes.com

    see also: "Finding a Path - Stories from My Life" by Harry W. Strachan

    "http://bookstore.iuniverse.c...
    http://www.scribd.com/doc/647...
    http://harrystrachan.com/
    http://harrystrachan.com/bain...
    (more)
  • RobinPeta Jester ... 2012/08/09 18:04:30
    RobinPeta
    +1
    These legitimate journalistic sources don't appeal to your point of view?
  • Jester ... RobinPeta 2012/08/09 18:09:58
    Jester M.S.
    They are not legitimate news sources by anyones measure. I do not read liberal/conservative rags. However, the OP was able to provide me with a good cite, which I appreciate.

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