Rutgers, Princeton keep cash in offshore accounts, leaked papers say

Rutgers University and Princeton University are among the top U.S. colleges using offshore secretive investments to make money while avoiding tax scrutiny in the U.S., according to leaked documents.

More than 100 universities are included in a trove millions of documents — dubbed the Paradise Papers — that detail how wealthy individuals and organizations use a complex network of overseas investments and accounts to legally make money out of the public eye.

Rutgers and Princeton are named in the leaked data from Appleby, a law firm based in Bermuda that specializes in offshore accounts, according to reports Wednesday …read more

Source: Camden

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