Candidate Says He Pays Full US Taxes on Offshore Money

Another controversy rises when his staff confirms he has money invested in the Cayman Islands.

CHARLESTON, S.C. - Under duress two days before the pivotal South Carolina primary, Republican front-runner Mitt Romney acknowledges he has part of his millions invested in the Cayman Islands, although his aides say he never used the location as a tax haven.

Mitt Romney keeps millions of dollars in funds based in the Cayman Islands, a notorious tax shelter, reports ABC News, and while they don't think he's ducking U.S. taxes, the story is another reminder than the guy is very rich. ABC News's team reports Romney invested $8 million in funds listed in the Caymans and may have between $5 and $25 million more there in other accounts. Romney's campaign ...

CHARLESTON, S.C. - Under duress two days before the pivotal South Carolina primary, Republican front-runner Mitt Romney acknowledges he has part of his millions invested in the Cayman Islands, although his aides say he never used the location as a tax haven.

Neither Romney nor his campaign is providing details, including how much he has invested there, or why, or if any of his money is invested elsewhere outside the United States.

Bain Capital has 138 funds in Cayman Islands.

Although it is not apparent on his financial disclosure form, Mitt Romney has millions of dollars of his personal wealth in investment funds set up in the Cayman Islands, a notorious Caribbean tax haven.

IRMO, S.C. â Mitt Romney has a portion of his fortune stored in offshore accounts, according to an ABC News report tonight that is stoking calls for him to release his income tax returns.

CHARLESTON, S.C. (AP) — Under duress two days before the pivotal South Carolina primary, Republican front-runner Mitt Romney acknowledges he has part of his millions invested in the Cayman Islands, although his aides say he never used the location as a tax haven.