May 17 Facebook co-founder Eduardo Saverin said
in a statement on Thursday that he is obligated to and will pay
"hundreds of millions of dollars in taxes to the United States
Saverin said his decision to renounce his U.S. citizenship
and relocate to Singapore was "based solely on my interest in
working and living in Singapore, where I have been since 2009."
With social media company Facebook poised for a
multibillion-dollar initial public offering on Friday, Saverin
has been criticized by lawmakers for what they say is dodging
U.S. taxes on expected stock market gains from his Facebook
In the statement sent to Reuters by his spokesman, Saverin
said: "I have paid and will continue to pay any taxes due on
everything I earned while a U.S. citizen. It is unfortunate that
my personal choice has led to a public debate, based not on the
facts, but entirely on speculation and misinformation."