Lautenberg Invested in Wall Street Schemer’s Fund

Sunday, Dec 14, 2008  |  Updated 1:57 PM EDT
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Lautenberg Invested in Wall Street Schemer’s Fund

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Democrat Frank Lautenberg, at 84, may be a victim of Wall Street fraud.

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New Jersey U.S. Sen. Frank Lautenberg is among the growing list of potential victims of what prosecutors are calling a multi-billion dollar Ponzi scheme.

  Lautenberg spokesman Scott Mulhauser says Sen. Lautenberg was an investor in Bernard Madoff's investment fund -- primarily in the form of the Lautenberg family’s charitable foundation.
 
The 70-year-old Madoff was arrested Nov. 11 in what prosecutors say was a $50 billion scheme by the former Wall Street veteran to defraud investors.
 
Lautenberg is among a growing roster of potential victims. Those who have acknowledged potential losses so far include former Philadelphia Eagles owner Norman Braman, New York Mets owner Fred Wilpon and J. Ezra Merkin, the chairman of GMAC Financial Services, among others.

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