John Kerry and his wife have been using secret offshore accounts to avoid paying taxes, according to a new report.
A Daily Caller investigation has claimed that Kerry and his wife, Teresa Heinz Kerry, have used an "elaborate set of Heinz family trusts" to invest more than $1 million into 11 individual offshore accounts — mostly hedge funds in the Caymen Islands.
Since the Panama Papers leak in early April, there have been no U.S. politicians identified as using offshore accounts. But this investigation could prove the Secretary of State and his wife have been tying to conceal their wealth by using tax havens.
Kerry's wife inherited hundreds of millions of dollars when her previous husband, John Heinz, died in 1991. Heinz is estimated to be worth $1 billion today.
One of the trusts Kerry and his wife have invested in, "HP Imperial," puts money in companies throughout Asia including "state-run" companies in the China, a potential conflict of interest for the former Massachusetts Senator.
Obama recently said the wealthy who "wiggle out of responsibilities that ordinary citizens are having to abide by" were "gaming the system." But even Obama is said to have benefited from offshore accounts, including The York Opportunities Fund, "a tax shelter that is close to Democrats," the new report claims.
State Department Spokesman Adm. John Kirby said Kerry has "no offshore investments" and that he has never "been a beneficiary of Heinz Family and Marital Trusts."
But the Heinz family has not stopped making substantial investments into tax havens, even since Kerry rose to his current position of power.