Democratic Congressman Daniel Goldman from New York was exposed for secretly depositing millions of dollars in a tax-free offshore account.
Recently unveiled financial documents revealed that the House Democrat was found stashing more than $30 million offshore as part of his efforts to support his nonprofit organization.
According to the documents, Goldman, the financial director of the Richard W. Goldman Foundation, who also has the authority to manage its assets, has been holding investments worth $32.2 million in the Cayman Islands, a popular tax haven for wealthy individuals and corporations who seek to relieve tax burdens.
In a report published by Fox News, the organization’s most recent tax filings revealed that the foundation “had investments worth $6.1 million and $26.1 million, respectively, in two private funds based in the Cayman Islands by the U.S. firm BBR Partners LLC., as of December 2020.”
Dem congressman’s charity has more than $30 million tied up in Cayman Islands funds https://t.co/utol31AJ0w— Fox News (@FoxNews) March 15, 2023
“Documents filed with the Securities and Exchange Commission show the two funds, BBR Equity Long/Short Ltd. and BBR Absolute Return Ltd., are organized in the Cayman Islands,” the report added.
Moreover, Goldman’s foundation was also exposed for secretly investing another $13 million in funds which are reportedly managed by BBR Partners, but organized in America.
The controversy came after Goldman released an official statement, vocally supporting US President Joe Biden’s plan to increase the taxes imposed on corporations and wealthy Americans.
“At a time of record wealth inequality, the wealthiest among us must help to provide more access for others to pursue the American dream that they have benefited so much from,” Goldman argued.
“I’m proud to cosponsor the Billionaire Minimum Income Tax as a long-overdue piece of legislation that will level the playing field, incentivize investment in the economy, and expand opportunities for underserved communities,” the Democrat claimed.
In January, Goldman also announced his vote against GOP legislation that aims to restrict the size of the Internal Revenue Service.
According to the Democrat, the bill would gut the agency’s ability to stop tax cheats and would “protect large corporations and wealthy Americans.”
“While everyday Americans are struggling to make ends meet, we need to ensure that everybody — especially the wealthy — pays their fair share,” Goldman lamented.
