Tags: illinois | democrat | governor | candidate | jb pritzker

Report: Illinois Dem Gov. Candidate's Offshore Holdings Exposed

Image: Report: Illinois Dem Gov. Candidate's Offshore Holdings Exposed
J.B. Pritzker (Scott Olson/Getty Images)

By    |   Wednesday, 14 March 2018 10:06 AM

Reporting into the finances of a billionaire candidate for governor in Illinois found the existence of several erstwhile secret offshore holdings that are controlled by the Democratic hopeful, the Chicago Tribune reports.

The Tribune found offshore shell companies that are controlled by candidate J.B. Pritzker and his brother and business partner, the Tribune reports.

The find refutes Pritzker's assertion any offshore accounts were set up in the 1960s by his grandfather and disbursed only to his charitable foundation, the Tribune reports.

The connection back to Illinois – Pritzker and his brother wanted to start a duck boat tour business on the Chicago River, requiring the purchase of land from the city of Chicago along the river, the Tribune reports.

Required filings to buy the $191,000 parcel of land listed revealed nearly 20 percent of their company is tied up in two offshore corporations in the Bahamas, the Tribune reports.

That spurred more digging into the offshore finances and complete asset structure of Pritzker, who disclosed just the first two pages of his personal income tax returns, the Tribune reported.

The Tribune found several shell companies tied to Pritzker.

"It's byzantine, it's complicated, and that's just the way they like it," Andrew Stoltmann, a Chicago securities lawyer, told the Tribune. "That's why Pritzker running for governor is so fascinating. We should know more about his finances. But my guess is that (Republican Gov. Bruce) Rauner's probably not any more forthcoming."

Rauner has accused Pritzker of trying to "hide hundreds and hundreds of millions of dollars of their money offshore in accounts," though he, too, has admitted investment in offshore funds and failed to disclose complete tax returns.

Pritzker is one of six Democrats seeking the nomination in next week's primary.

© 2018 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
The finances of a billionaire candidate for governor in Illinois found the existence of several erstwhile secret offshore holdings that are controlled by the Democratic hopeful, according to the Chicago Tribune.
illinois, democrat, governor, candidate, jb pritzker
289
2018-06-14
Wednesday, 14 March 2018 10:06 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved