Former US commerce secretary named in Paradise Papers over Triton shares

Penny Pritzker, who served as US commerce secretary during President Barack Obama’s second term, was named in the Paradise Papers over a potential conflict of interest relating to shares she owned in companies including container lessor Triton Container International.

Rather than selling the shares, as was expected at the time, they were transferred to an investment firm “owned by trusts that are for the benefit of Penny Pritzker’s children”, revealed leaked financial documents from June 2013.

Pritzker’s ethics forms value her shares in Triton at US$1m and US$5m at the time of the transfer.