 Obama campaign: ‘Severe consequences’ if Romney committed felony with Bain lies 
 
 By David Edwards 
 
 Thursday, July 12, 2012 12:30 EDT 
 
 Presumptive Republican presidential nominee Mitt Romney may be guilty of federal felony if he lied to the Security and Exchange Commission (SEC) about when he ceded control of Bain Capital, President Barack Obama’s campaign suggested on Thursday. The Boston Globe reported on Thursday that SEC documents showed that Romney continued to serve as Bain’s “sole stockholder, chairman of the board, chief executive officer, and president” until 2002 — even though he has repeatedly claimed that he left the company in 1999. Romney has not had any active role with Bain Capital,” Romney press secretary Andrea Saul said.
– If Mitt Romney wasn't actually Bain Capital's CEO in 2002, there could be "very, very serious legal consequences," an Obama campaign lawyer told reporters yesterday. Romney has said publicly that he left Bain in 1999, but the Boston Globe yesterday reported that Bain SEC filings indicate he controlled the company until 2002. If he wasn't actually in charge, which his campaign continues to insist, then he would appear to have committed a felony by misrepresenting his position to the SEC, Raw Story reports. "[It's] very, very serious," Obama lawyer Robert Bauer said on a conference call. "And in the normal course would subject somebody in this position to every manner of investigation with all the consequences that you can imagine." Politico also notes that while running for governor in 2002, Romney said he often returned to Massachusetts for "business trips" and "board meetings." At the time, that was in Romney's best interests because there were questions about his residency and eligibility to run for governor.