| Birth |
29 SEP 1944 |
Place: Chicago, Cook, Illinois
- Source:
- Newspaper article
Page: Chicago Sun Times
Quality: Secondary
Source Text: Career built on guts, family ties -- and skin
In 1995, Christie married former state Sen. William Marovitz, now a rea
l estate developer. She was in her early 40s, and Marovitz was nearly 5
0.
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| Misc |
23 AUG 1993 |
Place: Chicago, Cook, Illinois
- Source:
- Newspaper article
Quality: Secondary
Source Text: Marovitz Investments Eyed
Springfield - Former state Sen William Marovitz (D-Chicago) plowedf mor
e than $209,000 of his campaign funds into investments in the last four y
ears without reporting any income from them, records show.
"It is not clear whether he used the money for his own personal purpose
s or not," said Barbara Mason, director of the State Board of Elections c
ampaign financial disclosure section. Her office is seeking an explanat
ion from the Marovitz campaign.
Marovitz told the Associated Press on Friday the invested money is part o
f his campaign fund and was not for personal use. He could not be reach
ed for comment by the Chicago Sun-Times.
Citizens for Marovitz reported the transactions to the board as investm
ents made on behalf of the Chicago Democrat while at the same time list
ing them as expenditures of the campaign fund.
The amount generated from the investments could not be determined.
State law allows campaign funds to be used for personal purposes but it m
ust be reported and the money is subject to state and federal taxes.
Marovitz, 48, an 18-year veteran of the state House and Senate, was cha
irman of the Senate Judiciary Committee before leaving the Legislature. H
e didn't seek reelection after 1990 redistricting. He is often mentione
d as a candidate for Congress in 1994.
Two weeks ago, when first questioned by the AP, Marovitz said he did no
t know how his advisers invested the campaign funds or if they generate
d income.
During Friday's interview, Marovitz acknowledged all of his investments w
ere improperly listed as expenditures and that he will have to file ame
nded disclouser reports.
"There were too many people working on the damn thing," he said. "Party A d
idn't talk to Party B."
Marovitz said the investments were made in interest-bearing accounts, m
utual funds and stocks, but didn't know the total income generated. He s
aid he believes all the necessary taxes have been paid.
The campaign fund this spring paid $14,000 in federal taxes and $2,500 i
n state taxes but reported no investment income in the past year.
Campaign reporting regulations require receipts of $150 or more to be i
temized. Only $18.24 was reported in unitemized receipts for 1992.
State law also requires that investments made on behalf of a campaign f
und continue to be listed as assets -- and not expenditures that are sh
own as effectively reducing what is available to the campaign kitty.
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