KANSAS CITY, Mo. (AP) — Four years after Democratic Sen. Claire McCaskill co-sponsored legislation targeting tax havens such as the Cayman Islands, her husband began investing in a hedge fund tied to the Caribbean nation — an investment that has paid off handsomely.
Joseph Shepard has invested $1 million in Matrix Capital Management and that it has earned him between $230,000 and $2.1 million in income.
Shepard declined comment. He and McCaskill file taxes separately.
McCaskill campaign spokeswoman Meira Bernstein says the senator has no involvement in her husband’s investments, and doesn’t consider his business interests when doing her job in the Senate.
McCaskill’s financial disclosure forms identify Matrix Capital Management’s location as Waltham, Massachusetts. The U.S.-based fund feeds into a “master fund” located in the Caymans, which makes the actual investments.