Add another notch to David Perdue's plutocrat belt. The Georgia Republican Senate candidate who spent most of his career outsourcing jobs to Asia is also keeping some of his tens of millions of dollars in an interesting place. Perdue has between $500,000 and $1 million in a rich-people-only fund run by a subsidiary of a Swiss bank:
The fund, Vontobel Non-U.S. Equity LLC, is managed by a subsidiary of the Zurich-based private bank Vontobel to invest in companies that operate primarily outside the United States. Registered as a Delaware corporation, the fund includes shares of mortgage companies in India, global tobacco corporations, and European consumer goods manufacturers. [...]
By limiting the investor pool to high-net worth individuals and well-funded organizations, the Vontobel fund is exempt from the typical requirement that, as a Delaware corporation, it register with the Securities and Exchange Commission.
Perdue has earned at least $100,001 and as much as $1 million through his investment in Vontobel, which is the kind of return on investment that already being rich gives you access to.
This news is not exactly what the Perdue campaign needed right now. After all, Perdue is still on the defensive about his outsourcing career—and managing to insult Georgia voters who aren't happy to learn how he made his millions—and we've also recently learned about work Perdue did for an Indian company from 2007 to 2009 that he seems to want to hide from voters. What comes through loud and clear in all these stories is that Perdue puts his own wealth first.
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What's next for Perdue, going the full Romney with massive investments in the Cayman Islands? The R next to Perdue's name certainly helps him in Georgia, but it's hard to see how voters who have to work for a living can believe Perdue will fight for them.