Romney claims no tax benefits

U.S. presidential candidate, Mitt Romney, says he gained no tax benefits from investing part of his vast fortune in funds based here, in Cayman.

Last week it was revealed the extent of his wealth worth an estimated $250 million was in funds and accounts here and in other off shore jurisdictions. But in a pre-recorded interview with Fox News Sunday, he said there was no tax savings at all.

President Barack Obama’s campaign has pounced on the complex overseas investments –and even handed fake passports with the pages containing stamps from Cayman. But in the TV interview, Romney shot down the notion that he gained any tax advantage whatsoever saying his investments were consistent with U.S. law.

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