Jack Lew, President Obama's nominee for U.S. Treasury secretary, had an investment in a Cayman Islands fund located in a building known as home for offshore tax havens that President Barack Obama criticized during his 2008 campaign.
Lew will be asked about his investment in a Citigroup Inc. fund during his confirmation hearing before the Senate Finance Committee on Feb. 13, Senator Charles Grassley, an Iowa Republican, said yesterday in a statement.
Lew had between $50,001 and $100,000 in the fund, according to a 2009 financial disclosure form. The fund was located in a building known as Ugland House, according to Securities and Exchange Commission filings released by Grassley.
Lew, Obama’s former chief of staff and head of the Office of Management and Budget, was a Citigroup executive before joining the Obama administration in 2009.
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