In 1984, Mr Romney set up Bain Capital, the firm's investment arm, overseeing fundraising from his Boston office. Corporate files obtained by The Daily Telegraph show that Lyons, whom Bain hired to help set up its British office, was his first investor, putting in $2.5 million via a front company in Panama.Republicans should be horrified that they ever ran this guy as their presidential candidate. He would have been worse than Obama. Remember, Maxwell and Epstein are precisely the same thing.
Colleagues from the time said in interviews with The Daily Telegraph that the "unlamented" Lyons, the Yorkshire-born retail magnate and close ally of then-prime minister Margaret Thatcher, also reported back to Boston that he had signed up Maxwell, a friend and fellow City giant. "Jack took an interest in Bain almost as if we were his sons," said one Bain executive based in London at the time. "He wanted us to succeed in the UK and he introduced us to a lot of people . . . I remember attending a luncheon in London with Robert Maxwell."
Maxwell, an avowed socialist, invested through his British print firm, which was ultimately controlled by his secretive foundation in the tax haven of Liechtenstein. Lyons's nephew, Graham, and a trust in his name, invested a further $225,000. Graham Lyons, now a barrister in London, declined to discuss Mr Romney's fund, adding: "I'm not in finance." He referred queries to Lyons's son Jonathon, who did not respond.
A string of Bain partners invested about $12 million of their own money; Mr Romney putting up at least $160,000. Millions more came from investors in other tax havens including the Bahamas and Switzerland, and powerful families from El Salvador, some of whom were later linked to Right-wing "death squads" responsible for murders in their country's civil war. The $37 million fund was a great success, funding among others the global expansion of Staples, the stationers. According to a prospectus, it yielded an average return of 173 per cent a year on stakes in 21 firms, making millions in profits for its investors. "Every couple of years I would get a cheque," one recalled. "It was always a lot more than I had put into it". One Bain executive said: "Bain Capital is now a multi-billion dollar fund, and it's made Mitt very wealthy".
Maxwell died in suspicious circumstances in 1991 at the age of 68. It emerged he had plundered hundreds of millions of pounds from employee pension funds to plug holes in company finances, prompting a partial bail-out by British taxpayers.