panama-papers

Secretary of State John Kerry and his wife Teresa Heinz have invested millions of U.S. dollars through family trusts in at least 11 offshore tax havens, according to The Daily Caller News Foundation’s Investigative Group.

The revelation comes on the heels of the release of the Panama Papers, a treasure trove of 11.5 million legal and financial records documenting how some of the world’s richest and most powerful people have used offshore bank accounts to conceal their wealth and avoid taxes.

Since the release of the papers, no American politician has been identified as using the secretive offshore accounts. But a DCNF investigation has confirmed that the former Massachusetts Democratic senator and his billionaire wife, using an elaborate set of Heinz family trusts, have invested “more than $1 million” each into 11 separate offshore accounts — mainly hedge funds in the Cayman Islands. The trusts funneled millions of dollars over the years into various offshore investment vehicles through a Heinz trust called the “Heinz Family Commingled Alternative Investment Fund.”

Two other trusts appear to have been set up by the Heinz family since Kerry was appointed by President Barack Obama in 2013 to succeed Hillary Clinton as secretary of state. One is called “HFI Intermediate Fund II” and other the “HFI Dividend Investments.” HFI stands for the Heinz Family Investments. Obama recently lashed out at U.S. citizens who use tax havens.

On April 5, a few days after the Panama Papers were released, the president said the rich “have enough lawyers and enough accountants to wiggle out of responsibilities that ordinary citizens are having to abide by.” He said they were “gaming the system.”

For its part, State Department Spokesman Adm. John Kirby told TheDCNF Kerry is not a beneficiary of the investments and does not own them.

“Secretary Kerry has no offshore investments. He is not, nor has he ever been a beneficiary of Heinz Family and Marital Trusts and he has no decision-making power over them since they are entirely controlled by independent trustees,” said Kirby.

Heinz is a beneficiary, Kirby said, but he emphasized that the investments “are entirely controlled by independent trustees.” He declined to say who controls the trust and makes investment decisions. Although Democrats are united in condemning offshore accounts, many Democrats, including Obama, have actually benefited from them.

DISCLAIMER: I have only been able to find one source for this story, an admittedly right wing website. I would like to see this covered by the MSM but I wont hold my breath.



  1. NewFormatSux says:

    They are worth hundreds of millions, so a few million is not a big deal other than the appearance.

    • McCullough says:

      It does seem a little silly when you’re worth that kind dough, I mean how much are they really saving?

      And as Obama said….its probably not illegal, as long as you can pay your accountants and lawyers to navigate the rigged “system”.

      It’s what lawyers do for the wealthy.

      • Ah_Yea says:

        Remember that Mossack Fonseca was a minor player in the offshore world. There are many dozens of these companies, many much larger.

        Competent international corporation and those who own them divest their money to mitigate risk.

        I promise, knowing how these things work, that Putin, Heinz,etc. have used many offshore service providers to move and protect their assets.

        This is just the small tip of a very, very large iceberg.

  2. Ah_Yea says:

    Wait for the Clinton Foundation.

  3. Mr Diesel - Trump or Cruz is Fine with Me says:

    I’m sure it’s legal so this “news” should not come as a shock to anyone that very wealthy people do it.

  4. bobbo, the pragmatic existential evangelical anti-theist says:

    Grow up.

    • bobbo, the pragmatic existential evangelical anti-theist says:

      You have to set it as a goal, and then practice.

      Nirvana can be yours too.

      • ± says:

        You made a funny! 🙂 Are you in one of those states that just legalized “medicinal” wink-wink-nod-nod marijuana?

      • bobbo, the pragmatic existential evangelical anti-theist says:

        Thanks PM—-but no, NoName NAILED ME completely. I was/am getting off on pontificating.

        Ha, ha….. always helps to be correct while doing so. Its why so few here can get away with it. Like……….NoName.

    • NewFormatSux says:

      You should really reconsider if you have bobbo telling you to grow up.

      It’s like Marc Perkel saying you are too zealous.

  5. bobbo, the pragmatic existential evangelical anti-theist says:

    Silly Hoomans: listen to me now, and hear me later. ((Anybody remember who said that?????—was it Hans and Franz?))

    THE CRIME……… is ……….. THE LAW.

    Just look.

  6. jpfitz says:

    Today the Law lost across the pond. The 96 may get some justice finally. The Law is what the PTB agree is in their best interest.

  7. Hmeyers says:

    Nothing to see here. Move along …

    The tax code is what it is.

    Blame the complications of the tax code for creating these problems, not the people who exploit the idiocy of the tax code.

    Maybe the tax code shouldn’t be 30,000 pages …

    • NewFormatSux says:

      Bernie’s going to take away the tax credit for taxes payed to other countries.

      The end result will be more companies moving out and paying no taxes here.

    • Poly Ticks says:

      In April of 2002, John Kerry wrote a letter to President Bush endorsing the “The Tax Haven and Abusive Tax Shelter Reform Act of 2002”.

      In this letter ohn Kerry makes the following statements:

      “A growing number of corporations and individuals are exploiting tax havens in the Caribbean and elsewhere to evade and avoid paying taxes.”

      “By sheltering tax-dodgers and tax cheats, these overseas tax havens undermine confidence and trust in our federal government. The spread of illegal tax haven activity punishes those who play by the rules.”

      “The scope of the problem is daunting. Assets in offshore entities have climbed from an estimated $200 billion in 1983, to an estimated $5 trillion today. One private sector estimate suggests the use of tax havens to illegally shelter income results in the loss of $70 billion annually.”

  8. jpfitz says:

    I agree with Hm, if there was a rule or law that benefits you wouldn’t you do the same.

    • bobbo, the pragmatic existential evangelical anti-theist says:

      THE CRIME……… is ……….. THE LAW. /// Who do you think paid the congress creeps to create tax loopholes that only the Already Too Rich could use?

      Don’t be so mindless and gullible.

      It might not be John Kerry but certainly it is his wifey…and its not Bernie Saunders…. BUT CERTAINLY it is Billary and Trump.

      Trump has already said the working man gets paid too much and he is against inheritance taxes. given his finances, it hardly matters that he “says” the rich should pay more.

      Silly Sheep.

      • NewFormatSux says:

        These are the same tax credits that Hillary, Bernie, and all the rest promote, calling a tax credit on investment, children, the future, jobs, expanding opportunity, etc, then they complain when companies pay no taxes.

      • Hmeyers says:

        @Bobbo

        Is it true that cows do more global warming than all the cars/planes combined?

        http://independent.co.uk/environment/climate-change/cow-emissions-more-damaging-to-planet-than-co2-from-cars-427843.html

        This makes that assertion.

        So why isn’t Europe banning beef?

        • bobbo, the pragmatic existential evangelical anti-theist says:

          HM==you’ve linked to an article that explains the hows and the whys. I read a very similar article 5 years ago and its now appearing in the “pro eat insects” press that is out there.

          Human life has “an impact” on the climate. some more immediate and direct than others, many more indirect and obscure.

          Used to be a lot of talk about Methane from cows too and that seems to have died down. Maybe because they are being engineered via food sources and gut microbes to produce less of it AND because atmospheric methane has a life cycle of only 10 years…so whatever is produced “goes away” failure quickly…I forget how…..Ha, ha…. maybe by changing into co2? I’ll look it up when I think to.

          Creating ammonia was a new issue for me in the link. Hog farms famous for that stink.

      • NewFormatSux says:

        What did Socialists use for light before candles?

        Electricity.

      • jpfitz says:

        Sorry for the late reply, after further reading, I am against the nefarious money siphoned offshore in numbered accounts. Also the shelters found in Ireland by pharmaceutical companies sounds illegal to me.

        The tax codes have to be reduced down to a manageable set of rules. I don’t have a clue on how to stop man’s dark side, greedy, warring and enslaving nature.

  9. Hmeyers says:

    This reminds me of a comment I read somewhere.

    Someone said “People are accusing Trump of literally being Hitler.”

    Someone else “No they aren’t. Because literally means that Trump would actually have to be Hitler himself. And no one is making that argument.”

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