Report: Rauner funneled money into Caribbean

CHICAGO (AP) — Republican gubernatorial candidate Bruce Rauner funneled part of his wealth to a Caribbean territory long considered a tax haven, a business practice the venture capitalist defended on Sunday, stressing there was no impact on his personal tax rate.

Rauner spoke with reporters the same day a published report detailed how three of five of Rauner’s Cayman Island holdings are tied to GTCR, a Chicago-based private equity firm Rauner helped found. The Chicago Sun-Times cited a comparison of investments Rauner listed on a state economic disclosure form with the online corporate registry maintained by the Cayman Islands government.