Mitt Romney allegedly provided testimony in the bitter divorce of his friend and staunch advocate, ex-Staples CEO Tom Stemberg, that meant his ex-wife received a poor divorce settlement.
Sources told TMZ that Romney, whose hedge fund, Bain Capital, was an investor in Staples before it became a household name, testified in the case that the company was worth virtually nothing and that his friend was a 'dreamer'.
He testified during the hearings in 1988 that the company's stock was 'overvalued' and that the future did not look good. Later he and Stemberg allegedly went to Goldman Sachs to cash in their stock for a massive payout, according to TMZ.
His bitter ex-wife Maureen Stemberg claims this testimony effected how much she got from the settlement.
It is unclear what if any lump sum she got out of the divorce, but it is known she was awarded 500,000 shares in the company. She later went on to cash in half of these before the company went public - missing out on a huge windfall as stocks soared from $2 to $19.
There is no proof so far that Romney or Stemberg tried to mislead Mrs Stemberg or the court, but Mr Stemberg has yet to respond to a request for comment from MailOnline.
Romney's lawyer Robert Jones simply told MailOnline that his client had no issues with the testimony being made public.
'This is a decades-old divorce case in which Mitt Romney provided testimony as to the value of a company,' he said. 'He has no objection to letting the public see that testimony.'
http://www.dailymail.co.uk/news/art...ife-missed-windfall.html?ICO=most_read_module
Sources told TMZ that Romney, whose hedge fund, Bain Capital, was an investor in Staples before it became a household name, testified in the case that the company was worth virtually nothing and that his friend was a 'dreamer'.
He testified during the hearings in 1988 that the company's stock was 'overvalued' and that the future did not look good. Later he and Stemberg allegedly went to Goldman Sachs to cash in their stock for a massive payout, according to TMZ.
His bitter ex-wife Maureen Stemberg claims this testimony effected how much she got from the settlement.
It is unclear what if any lump sum she got out of the divorce, but it is known she was awarded 500,000 shares in the company. She later went on to cash in half of these before the company went public - missing out on a huge windfall as stocks soared from $2 to $19.
There is no proof so far that Romney or Stemberg tried to mislead Mrs Stemberg or the court, but Mr Stemberg has yet to respond to a request for comment from MailOnline.
Romney's lawyer Robert Jones simply told MailOnline that his client had no issues with the testimony being made public.
'This is a decades-old divorce case in which Mitt Romney provided testimony as to the value of a company,' he said. 'He has no objection to letting the public see that testimony.'
http://www.dailymail.co.uk/news/art...ife-missed-windfall.html?ICO=most_read_module
