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Wilson's tax returns show glimpse of hedge fund past

Harry Wilson, the Wall Street veteran who is seeking election as state comptroller on the Republican line, earned $6,198,963 in 2008, mostly from his partnership stake in Silver Point Capital, a Connecticut-based hedge fund, his tax returns show.

Wilson had four household employees at his Scarsdale home in 2008 and gave a total of $53,274 to charity that year, according to the returns.

Wilson's campaign allowed reporters to review his tax returns for the years 2005 through 2008; last year's returns are not yet complete but will be released later this year, the campaign said.

The four years show sharply rising income from his salary and various partnerships and other investments, including the Blackstone Group, where he had been a principal. His adjusted gross income rose from $2.4 million in 2005 to $3.9 million in 2006, then to $7.6 million in 2007, the year he made partner at Silver Point.

Wilson left Silver Point in 2008, serving for six months in 2009 on the federal auto-industry task force.

In Wilson's $53,274 donated to charity in 2008, his leading beneficiary was Harvard University, where he attended college; it received $31,500. He gave a total of $7,795 to two Greek Orthodox churches in Manhattan and New Rochelle, $10,000 to Youth I.N.C., a New York City philanthropy, and to a smattering of other groups.

He paid $1,742,942 in taxes in 2008.

On Sept. 16, the day the federal government moved to bail out failing American International Group, Wilson bought some of the stock, the returns show, selling a small amount within the next few weeks to earn a profit of $1,638.85.

State Democratic chairman Jay Jacobs Thursday said Wilson's release of his returns "doesn't come close to answering the serious questions surrounding his finances and how he manages money."

Jacobs said Democrats want to know more about Wilson's "performance as a hedge fund manager, his speculation in collateralized debt obligations and other derivatives, his approach to borrowing, and his potential conflicts. . . . Wilson needs to lift the veil on his secretive hedge fund past and come forward with a whole lot more about his personal conflicts and how he did when gambling with other people's money these past few years."

Wilson's spokesman replied that he had gone "above and beyond what he is required to do as a candidate. . . . The electorate is tired of that kind of politics."

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