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Lautenberg spokesman Scott Mulhauser said the New Jersey Democrat is among those who entrusted their money to Wall Street financier Bernard Madoff. Madoff, 70, a former chairman of the Nasdaq stock exchange, was arrested Thursday in what prosecutors say was a multibillion-dollar scheme to defraud investors.
Andrew Mills/The Star-Ledger
Mulhauser referred all further questions to Lautenberg's attorney, Michael Griffinger, who said in an e-mail Sunday afternoon that the extent of any losses was not yet clear as he had not had a chance to analyze paperwork related to the case that Sen. Lautenberg had just given him.
"The senator is obviously very distressed about the likely loss of the foundation funds in the hands of Madoff, and that the foundation will not be able to make contributions to the many charities it has served so well over the years," Griffinger said.
On Friday, Griffinger toU.S. Senator Frank Lautenberg (D-NJ) at a fundraiser in East Rutherford in 2004.
Mulhauser said the senator's investments with Bernard L. Madoff Investment Securities LLC were primarily made through the Lautenberg family's charitable foundation, which donates to a variety of religious, educational, civic and arts organizations in New Jersey and elsewhere.
ld The Record of Bergen County that the bulk of the Lautenberg foundation assets -- nearly $14 million, according to 2006 filings -- was invested with Madoff.
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