The Senate hearing for President-elect Donald Trump's treasury secretary nominee, Steven Mnuchin, took a deep dive into the question of whether Mnuchin simply forgot to list on his financial paperwork that he is the director of an investment fund based in the Cayman Islands, as he claims, or whether he was trying to cover up his involvement in tax loopholes, as some of his critics believe.
"The difference between investing in the United States or the Cayman Islands is the possibility of avoiding U.S. tax laws," Sen. Robert Menendez (D-N.J.) said. "You've made it very clear that you paid your taxes … but the entities that you were helping or that you were making money from, you were helping them avoid U.S. taxes."
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