Missouri’s Claire McCaskill isn’t the only Democratic senator up for reelection with money invested in a notorious offshore tax haven.
Financial disclosure forms for Minnesota senator Tina Smith, a still little-known lawmaker who inherited her seat last December after Al Franken resigned, reveal an investment valued at between $500,000 and $1 million in a hedge fund based on the island territory of Bermuda, one of the world’s most notorious tax havens.
The offshore asset is held by her husband, Archie Smith, an independent investor who had a prolific investment career working for various funds—he was once named the Wall Street Journal’s stock picker of the year. Smith’s financial disclosure reveals a vast investment portfolio valued at up to $12 million, mostly consisting of assets owned by her husband.
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