Bain Capital Gets Subpoena In Tax Dodge Investigation

Bain Capital, the private equity firm founded by Republican presidential nominee Mitt Romney, has been subpoenaed in an investigation into tax avoidance schemes by the New York Attorney General.

According to the New York Times, Bain is one of several firms whose documents have been requested. The probe seeks to discover whether the firms converted management fees into fund investments, avoiding the higher taxes associated with those fees.

Mitt Romney continues to earn income from Bain-based investments, but has refused to disclose multiple years of his tax returns. Romney has kept some of his money in offshore accounts often associated with tax avoidance schemes.