Statehouse
5:39 am
Mon August 4, 2014

Report: Rauner Funneled Money Into Caribbean

Bruce Rauner
Credit Amanda Vinicky/WUIS

Republican gubernatorial candidate Bruce Rauner says money channeled through the Cayman Islands and connected to his business dealings had no impact on his personal tax rate.  

Rauner spoke to reporters Sunday, the day a published report detailed how three of his five holdings in the Caribbean were tied to GTCR, a Chicago-based private equity firm he helped found.  

The Chicago Sun-Times  cited a comparison of investments Rauner listed on a state economic disclosure form with the online corporate registry maintained by the Cayman Islands government.  

Rauner hasn't been accused of wrongdoing, but political experts have said it's a matter of optics. Democratic Gov. Pat Quinn's campaign has accused Rauner of ``stashing'' money abroad to avoid paying taxes.  

Rauner calls it ``political spin'' and says voters like his message.
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