October 25, 2020

Cayman Islands records show hedge funds Alan Grayson said he closed are still active

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AP101101122949By Adam C. Smith Adam C. Smith, From Tampa Bay Times

Democratic U.S. Senate candidate Alan Grayson said more than two months ago he had closed down his Cayman Islands-based hedge fund and related corporate entities that generated a congressional ethics complaint against the populist congressman from Orlando who has railed against tax dodgers even as he set up his own hedge fund in a notorious tax haven. He declined to provide documentation to the Tampa Bay Times when we asked for it in early October, just as he did with The Hill newspaper several weeks ago.

“Feel free to check with Cayman Islands authorities, if you regard that as relevant or useful,” Grayson spokesman Ken Scudder told The Hill.

We did.

Grayson’s Cayman-based investment companies remained open as of Wednesday afternoon, according to official records provided to the Tampa Bay Times by the Cayman Islands Government General Registry. The investment-vehicles Grayson set up in the Caymans — the Grayson Fund (Cayman), Ltd.; The Grayson Master Fund (Cayman) LP, and the Sybilline Fund General Partner LLC – are still listed as active.

Scudder said Thursday those records are wrong.

“The funds were closed on Sept. 30. Registry may not be up to date…but I can’t speak for them,” he wrote in an email.

But three Registry staffers told us it’s highly unlikely the records obtained by the Times are outdated. Processing typically takes a few days.

“In some cases it can be immediate. In other cases it can take 7 to 14 business days,” said Clayton Garwood, a supervisor at the General Registry.

For more on this story go to: http://www.tampabay.com/blogs/the-buzz-florida-politics/cayman-island-records-show-hedge-funds-alan-grayson-said-he-closed-are/2256341

IMAGE: Democratic U.S. Senate candidate Alan Grayson www.breitbart.com

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