Live

Watch CBSN Live

Lautenberg Foundation Lost Money In Hedge Fund Fraud

Sen. Frank Lautenberg (D-N.J.) isn't saying just how much money he lost in the massive hedge fund fraud allegedly perpetrated by Wall Street banker Bernard Madoff.

But it's clear from Lautenberg's statements that the Lautenberg family foundation -- invested with Madoff -- has taken a hit.

Lautenberg spokesman Scott Mulhauser would only release this statement: "Senator Lautenberg was an investor in Bernard Madoff’s investment fund, primarily in the form of his family’s charitable foundation."

The Lautenberg foundation has in the past contributed to the Breast Cancer Research Foundation, Catholic Relief Services, the NAACP and the New Jersey Performing Arts Center.

Lautenberg's office referred questions about the foundation's losses to his lawyer, Michael Griffinger, whose office referred Politico back to the senator's office.

View CBS News In
CBS News App Open
Chrome Safari Continue