Cayman Island Claire? Husband’s Investments Stir Controversy in MO-Sen. Race Cayman Island Claire? Husband’s Investments Stir Controversy in MO-Sen. Race – NTK Network

Cayman Island Claire? Husband’s Investments Stir Controversy in MO-Sen. Race

Joseph Shepard, Claire McCaskill’s husband, has earned between $230,000 and $2.1 million in a Cayman Island hedge fund, according to McClatchy.

By NTK Staff | 06.20.2018 @1:00pm
Cayman Island Claire? Husband’s Investments Stir Controversy in MO-Sen. Race

Sen. Claire McCaskill (D-MO) is embroiled in yet another scandal, this time involving her husband’s offshore investment accounts.

According to McClatchy, Joseph Shepard, McCaskill’s husband, invested $1 million in Matrix Capital Management. That firm is based in Waltham, Mass., but the particular fund that Shepard invested in funnels into a “master fund” located in the Cayman Islands. It’s that fund in the Caymans that makes the actual investment of Shepard’s money.

And according to McCaskill’s financial disclosure forms, the couple has made good money on their investment:

Joseph Shepard’s investment in Matrix Capital Management has earned him between $230,000 and $2.1 million in income since he first invested in 2013, according to McCaskill’s financial disclosure forms. Such forms only show a range of income.

By investing this money overseas, Shepard and McCaskill avoid paying capital gains taxes on the earnings.

While McCaskill and Shepard, married in 2002, file U.S. taxes separately, McCaskill has enjoyed the perks of her husband’s offshore investments. Last week, the Washington Free Beacon discovered the Missouri senator flew on a private jet while claiming to be on an RV tour of the state. The news prompted President Trump to mock McCaskill in a tweet.

Still, her office disputes that McCaskill has any involvement in the offshore accounts.

“Claire does not make decisions on public policy based on what’s best for her husband; she makes decisions based on what is best for the people of Missouri,” [McCaskill spokesperson Meira] Bernstein said in a statement. “That’s why she voted against the recent tax bill that primarily benefited large corporations and the wealthy. And it’s why she supported the Stop Tax Haven Abuse Act.”

The legislation mentioned by McCaskill’s spokesperson never became law.

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