Bain Capital Has Close Ties To Salvador’s Death Squads
When Mitt Romney started Bain Capital, which is a private equity firm, he could not raise money from any of the current clients at Bain & Company. So he set out to find new investors, which led him to a group of Central American Oligarchs. They were rich Salvadoran families with close-nit ties to right wing death squads who targeted left wing guerrillas during a very bloody civil war in El Salvador.
The United Nations Truth Commission ruled in 1995 that over 85% of the violence was perpetrated by these right wing extremist killers that were funded by wealthy Salvadoran families, many of which were original investors in Bain Capital. These Latin American families invested $9 million in Bain, which represented over 40% of the company’s outside investments.
These investments included leverage buyouts and brand new start-ups, which in turn paid them a whopping 173% in returns over the next decade. It is no surprise that Romney’s Latin American friends have rolled over their investments and continue to participate in investor meetings that are sponsored by Bain Capital. To this day, they remain one of the largest investors in the company.
At a dinner in Miami, back in 2007, Mitt Romney said he owed so much of his success to Americans that were of Latin American descent. He thanked his partners like Pancho Soler, Diego Ribadeneira, Ricardo Poma, Frank Kardonski and Miguel Duenas for their investments that financed his enterprise. People can argue the facts about Bain Capital’s ethics, but it’s hard to argue that Bain doesn’t have a lot of blood on their hands.
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