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TheStreet Open House

Doubts Emerge About Romney's Bain Tenure

NEW YORK ( TheStreet) -- Questions about Mitt Romney's tenure at private equity firm Bain Capital emerged Thursday as a report raised doubts about the Republican nominee's transparency on the issue.

The Boston Globe has discovered a Massachusetts financial disclosure form filed by Romney in 2003 that says the former state governor owned 100% of Bain Capital in 2002.

Romney has repeatedly stated that he did not run Bain Capital after he left the firm in February 1999 work on organization of the 2002 Winter Olympic Games.

A campaign official has reiterated to TheStreet previous Romney claims that he has had no Bain involvement in investment decisions or management since he left for his Olympic post.

The official says Romney continued to be on filings because he had not yet transferred ownership to the other partners at Bain. When Romney transferred ownership in August 2001, the official retirement agreement was deemed effective dating back to 1999, the campaign official says.

The Boston Globe report said Romney owned 100% of Bain in 2002. Previous articles about Romney's tenure at Bain reported that Romney announced he had formally transferred ownership in 2001 -- consistent with what current campaign officials say.

Questions about Romney's tenure at Bain have come up regularly with political opponents seeking to use the private equity firm's dealmaking and business decisions to criticize Romney, who has sought to distance himself from events occurring after 1999.

The Boston Globe points out: Romney's repeated claims that he had left the private equity firm in 1999 first arose during his run for governor in 2002, when his opponent noted a Kansas City steel mill that went bankrupt in 2001 after Bain had bought and sold the mill.

BuzzFeed has also reported that Romney may have "accidentally suggested" he was at Bain until 2002 in the past.

-- Written by Joe Deaux in New York.

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