Treasury Secretary Nominee Jack Lew Has Bank Account In Cayman Islands

Via NBC:

Jack Lew, President Barack Obama’s Treasury Secretary nominee, previously held up to $100,000 in investments in an offshore hedge fund located in the Cayman Islands, according to financial disclosure forms. Lew’s financial disclosure forms, filed in 2009 and 2011, showed that Lew had invested between $50,000 and $100,000 in a fund called Citigroup Venture Capital International Growth Partnership (Employee) II, L.P. — the very type of fund President Obama has repeatedly criticized. … According to his official White House biography, Lew served as managing director and chief operating officer of Citi Global Wealth Management and then Citi Alternative Investments (CAI) from 2006 to 2008. … The source also told NBC News that Lew had no role in creating, managing or operating the fund, and that Citigroup had organized the fund in the Cayman Islands and made it available to other employees. The source said that many other Citigroup employees had investments in the fund.

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