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New Legal Analysis Finds Strong Possibility of Romney Criminal Liability for Misrepresentation He Made in Federal Financial Disclosure Filings in 2011

New Legal Analysis Finds Strong Possibility of Romney Criminal Liability for Misrepresentation He Made in Federal Financial Disclosure Filings in 2011



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Published by: moveonorg on Sep 27, 2012
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September 27, 2012
 Via Facsimile and First Class Mail
 Jack Smith, Esq., Chief Public Integrity SectionU.S. Department of Justice950 Pennsylvania Ave., N.W.Washington, D.C. 20530Dear Mr. Smith:On behalf of the more than 7 million members of MoveOn.Org Political Action(“MoveOn”), I respectfully request that the Department of Justice initiate an investigation intowhether the Republican nominee for President, former Massachusetts Governor Mitt Romney, violated the False Statements Act, 18 U.S.C. §1001, for stating unequivocally, on his personalfinancial disclosure form filed in 2011 (SF 278), that he was “not involved in the operations of any Bain Capital entity in any way” after February 12, 1999.As explained in detail in the attached memo prepared by our counsel, there is substantialevidence that Governor Romney was in fact involved in the operations of Bain Capital entitiesafter that date. Indeed, it is undisputed that Gov. Romney was the sole director, Chief ExecutiveOfficer and President of Bain Capital, Inc. at least through the middle of 2000. The notion thathe occupied these positions with absolutely no involvement in the operations of Bain Capital Inc.is inconsistent with the requirements of applicable law and the reported facts concerning hisrelationship to Bain at that time.The purpose of requiring candidates to file a personal financial disclosure form, under theEthics in Government Act, is to ensure that the electorate is fully informed about the financialinterests and fiduciary and other positions of the candidates. For a candidate to makemisrepresentations on that form is not only a federal crime but a serious breach of the publictrust.There are significant unresolved questions about whether Governor Romney deliberatelylied on his financial disclosure form. There is a very significant public interest in having themresolved one way or the other. For this reason, we request that the Department initiate anappropriate investigation into the circumstances outlined in the enclosed memo.Thank you for your time and attention to this important matter.Sincerely yours, Justin RubenExecutive Director, MoveOn.org Political Action
 1September 26, 2012
MEMORANDUM FOR MOVEON.ORG POLITICAL ACTIONFROM: Joseph E. Sandler SUBJECT: Potential Criminal Liability of Governor Romney Under False StatementsActThis memo, per your request, addresses the question of under what circumstances presumptive Republican presidential nominee and former Governor Mitt Romney (R-Mass)could face potential criminal liability for statements made in filings submitted to the U.S.Government. In summary, there is substantial evidence that Gov. Romney continued to beinvolved in the operations of Bain Capital entities after February 12, 1999. If that proved to bethe case, Gov. Romney could be charged with violating the False Statements Act, 18 U.S.C.§1001, for stating the contrary on the personal financial disclosure form he filed in 2011, as acandidate for President, pursuant to the Ethics in Government Act of 1978 as amended.
Factual Background
The facts giving rise to the questions about Gov. Romney’s statement on his personalfinancial disclosure form have been widely reported. In summary, the most relevant facts are asfollows.The Ethics in Government Act of 1978 as amended, 5 U.S.C. App. 4 §101, requirescandidates for President (and other federal offices) to file a form publicly disclosing certaininformation about their personal finances. The form required to be filed by a presidentialcandidate is Office of Government Ethics Form 278, the “Executive Branch Personnel PublicFinancial Disclosure Report.”On August 12, 2011, Gov. Romney filed his Public Financial Disclosure Report. One of the key explanatory notes in that Report, Note 9, states that:Since February 11, 1999, Mr. Romney has not had
active role with
Bain Capitalentity and
has not been involved in the operations of any Bain Capital entity in any way
.(emphasis added). The categorical nature of this assertion has given rise to controversy anduncertainty about its truthfulness and about Gov. Romney’s intent in making it.On the one hand, Gov. Romney did appear to leave the day to day management of Bainin February 1999 to head the Salt Lake City Utah Olympics Organizing Committee. TheMassachusetts State Ballot Commission made official findings in 2002 that Romney wasemployed by the Organizing Committee from 1999-2002 and that he was “actively employed” atBain Capital only until January 1, 1999. Mass. State Law Ballot Commission,
Thomson v.
Dkt. No. 02-05 et al. (June 25, 2002). Further, in several Bain Capital documents from2000 and 2001, Romney is not listed as one of the “key investment professionals” involved ininvestment management. (Dan Primack, “Documents: Romney didn’t manage Bain funds,”Term Sheet, Fortune, July 12, 2012, available athttp://finance.fortune.cnn.com/2012/07/12/mitt-romney-bain-exit/.)On the other hand, there is significant evidence that Gov. Romney may have indeedcontinued to be “involved in the operations of” certain Bain Capital entities well after February1999:A.
Ownership and fiduciary positions with Bain entities
. Public filings confirmthat Gov. Romney continued, after February 1999, to hold key fiduciary positions with Bainentities. On May 2, 2000, a group of Bain entities filed a Form 13D with the U.S. Securities andExchange Commission (SEC). The group included a number of partnerships referred to as the“BCIP Entities.” The Form stated that, “Bain Capital Inc., a Delaware corporation (‘BainCapital’) is the sole managing partner of the BCIP entities. Mr. W. Mitt Romney is the soleshareholder, sole director, Chief Executive Officer and President of Bain Capital and thus is thecontrolling person of Bain Capital.” (Form 13D at 8). This means that Bain Capital Inc. had thelegal authority and responsibility for managing the investment vehicles referred to as the BCIPEntities, and that Gov. Romney, as the sole shareholder of Bain Capital, Inc., had the ultimateauthority over such management.Although Gov. Romney did not sign that form, he did sign six other filings with the SECmade on behalf of investor groups consisting of several Bain entities and himself: PirodHolding Form 13D filed April 13, 1999; VMM Merger Corp. Form 13D, filed Jan 3, 2000; BainCapital Fund Form 13 G filed Feb. 14, 2000; Bain Capital Fund VI Form 13G filed Feb. 13,2001; and Bain Capital Fund VI Form 13G filing on Feb. 14, 2001; Bain Capital Fund VI Form13 G filed Nov. 12, 1999.Some of these forms signed by Gov. Romney himself affirm that he continued to holdkey fiduciary positions in Bain entities. For example, a Form 13G was filed on behalf of severalBain entities and Gov. Romney individually on February 14, 2001. This filing describes the“persons” filing the form (all of which were Bain partnerships or corporations except for Gov.Romney himself), and identifies “W. Mitt Romney…an individual, as the sole stockholder,Chairman of the Board, Chief Executive Officer and President of BCI [Bain Capital InvestorsVI] and BC [Bain Capital Inc.].”B.
Authority and control as owner of Bain entities
. SEC Forms 13D and 13G arefiled to disclose publicly the acquisition of beneficial ownership of over five percent in a

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kiki5711 added this note
and so days go on, and now what? I know this is going to take a long time, but can we be kept up with the progress, or let us know where to look for progress? In court, or elsewhere?
Laser Haas added this note
Thanks Rmuse - for finally doing the story on the vast frauds we suffered - that no one in main stream media has the guts to report upon!
Mark Wayne Bell added this note
A Vulture Capitalist like Romney if not checked, will do to the US what he did to all those companies.that he cannibalized. Al Capone never went to prison for all the felonies he committed until they looked through his tax returns. Maybe this simple little lie may be his undoing
Robert Dennis Mulkey Sr added this note
No matter what, I say Son like Father. I grew up I Michigan when Mitt Romney's father was Governor and he was not too grate as I remember and nor did he do much for the lower class of pepole, his sight's was on those who had money and contributed to his campign or what ever his cause was at the time. I hope that Mitt Romney lies keep him out of the White House as the head of our Government.
James Kevin Hazel added this note
Time is the biggest issue here. Do you have any idea when the court(s) will make a decision on when the courts will either dismiss or continue the investigation? It says that this was started on September 12, 2012, it is VERY important that these issues be decided before the election. He is the type of guy to pardon himself or invoke 'executive privilege' and this crime will go unpunished.
Charles Spear added this note
Things gotta start getting right
Marilyn Valley added this note
I wholeheartedly concur!
Jesse Gardner added this note
is this another witch hunt? Good luck guys and gals...

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