The Club for Growth released an ad on Wednesday exposing businessman Troy Downing’s “shady dealings” and business practices.

The ad, entitled “Shady,” exposes Montana Senate Republican primary candidate Troy Downing’s shady business practices in his home state of California. Club for Growth also released CaliforniaTroy.com, which details Downing’s many concerning business practices.

Club for Growth President David McIntosh said in a statement:

 It’s important Montanans know the truth about Troy Downing and his history of shady dealings in his home state of California. From three felony convictions to a Ponzi scheme to defrauding investors, Downing’s shady connections speak for themselves:

The transcript of the ad reads as follows:

Back home in California Troy Downing managed an investment company whose owners defrauded investors.

It’s true. Hundreds of thousands of dollars in a Ponzi scheme, three felony convictions, and Downing right in the middle of it.

Troy Downing. Shady.

Downing served as a principal at Equity Based Services. Howard Kaplan, his partner, was sentenced to six months in prison for his role in a wire-fraud conspiracy. Downing’s two other partners, Stephen Kaplan and Eric Kaplan, also received sentences.

Throughout 2015 and 2016, Downing continued to oppose Donald Trump even after he secured the Republican nomination for president. In September 2015, Downing tweeted that Trump “cracks me up” and suggested Trump was not electable. In March 2016, Downing said Trump was “either a liar or an idiot.” On August 3, 2016, Downing tweeted about a Trump robocall and then used the hashtag “#NeverTrumpNeverHillary,” labeling himself as a Never Trump Republican.

Downing has also claimed to be a Montana resident since 2009; however, the Montana Department of Fish, Wildlife, and Parks (FWP) claimed that he is not a resident and that he filed taxes as a non-resident of Montana.

The Montana Great Falls Tribune wrote, “Investigators have characterized his time in Montana as ‘seasonal at best’ during the years at issue.”

Russell Fagg, another Montana Senate Republican primary candidate, had to resign from the Montana Law Review for plagiarism. The American Democracy Legal Fund (ADLF) also filed two complaints against Fagg for failing to properly disclose his assets for the Senate primary, which includes his private jet, and for unethically attempting to raise money while serving as a judge.

Fagg has also faced political backlash for his support of an Internet sales tax. In February, Fagg admitted he would support an Internet sales tax and then backtracked a month later.

Downing and Fagg both trail in the polls compared to rancher and state auditor Matt Rosendale. Forty-nine percent of state Republican primary voters believe that Rosendale is “very conservative.”

Sens. Rand Paul (R-KY), Ted Cruz (R-TX), and Mike Lee (R-TX) have endorsed Rosendale for the U.S. Senate.

Cruz wrote in an op-ed in the Flathead Beacon that we need “strong leaders like Matt Rosendale” who will defend the Constitution.

Sen. Paul wrote an op-ed in May that Rosendale is a “fearless conservative leader.”