BREAKING NEWS

Ann Romney trust invested in fund that exited sex-site firm

By REUTERS

APRIL 3, 2012 04:51

NEW YORK - A blind trust in the name of Ann Romney, wife of Republican US presidential hopeful Mitt Romney, was an investor in a fund run by Goldman Sachs Group Inc that had invested in a media company which critics say facilitates sex trafficking.

While there is no suggestion the Romneys knew about the investment, the disclosure highlights the difficulty for politicians and their families when they invest in blind trusts that are supposed to protect them from conflicts of interest and ethical questions.

According to an August 2011 financial disclosure report by the Romneys, Ann Romney's blind trust had an investment valued between $15,001 and $50,000 in Goldman's GS Capital Partners III.

Goldman said on Sunday that GS Capital Partners III signed a deal last Friday to sell its 16 percent stake in Village Voice Media, which owns the website Backpage.com, back to management.

Critics argue that Backpage.com facilitates the trafficking of underage prostitutes and sex slaves, although others question that.

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