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DFL Sen. Al Franken's latest TV ad features scenes of Bermuda and claims that the company Mike  McFadden helped run "uses a special tax loophole to list its headquarters offshore and avoid paying millions of dollars in taxes in America."

The McFadden campaign says the ad is inaccurate and notes that Franken had invested in Lazard Ltd. through a "socially responsible" fund.

"As a Lazard shareholder, Al Franken should know that the branch of Lazard that Mike McFadden was the co-head of is incorporated in Delaware," said McFadden spokesperson Tom Erickson. "This is nothing but a desperate attempt by Democrats to turn attention away from the failed Obama-Franken foreign policy agenda that is creating chaos around the globe."

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Mark Zdechlik

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McFadden camp says new Franken ad falsely claims McFadden's Lazard Middle Management has Bermuda HQ for tax reasons

New Franken ad accuses McFadden of dodging taxes

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