07/29/2010 05:42 pm ET Updated May 25, 2011

Andrew Romanoff's New Ad Accuses Bennet Of 'Looting' A Billion Dollars

In perhaps the sharpest attack yet in an increasingly heated Democratic Senate primary, challenger Andrew Romanoff released an ad Thursday accusing incumbent Michael Bennet of "looting" millions at the expense of a company called Regal Cinema.

The ad references a July 22 article in the Cherry Creek News, a Denver neighborhood paper, which asserts that Bennet, a former manager for Denver Billionaire investor Phil Anschutz, organized the bankruptcy of Regal cinemas in order to secure over a billion dollars in dividends for board members.

Investors like the Louisiana teachers pension fund called the "outrageous" and sued Anschutz over what they perceived as "using Regal's funds for their own personal purposes."

In a statement, the Bennet campaign quotes the judge in the trial as saying "there is absolutely no evidence, not a shred of evidence, that Mr. Anschutz or his affiliates have received anything from Regal to the exclusion of or detriment to the minority stockholders."