Filing discloses Sen. Murkowski's finances

Posted: Tuesday, April 22, 2003

FAIRBANKS (AP) -- Sen. Lisa Murkowski shares her largest investment with her father, Gov. Frank Murkowski, according to a filing released by the Secretary of the Senate after two deadline extensions.

The 10-page document shows the new senator's largest investment is in New Frontier Ventures, a limited-liability corporation owned by the senator, her husband, Verne Martell, and the governor and his wife, Nancy, according to state records. The company owns Anchorage real estate.

Lisa Murkowski's interest in the company is valued at between $500,000 and $1 million. Disclosure documents give ranges rather than specific figures.

The governor's most recent disclosure statement, filed in December at the end of his Senate career, declared his and his wife's interests to be in the same range as their daughter's and son-in-law's.

Sen. Murkowski declared income of between $15,000 and $50,000 from the corporation during the past year, while the governor declared no income.

The second-largest investment by Sen. Murkowski and her husband is Martell's business in Anchorage, the Alaska Pasta Company, valued at between $250,000 and $500,000. The senator declared no income from it, and federal disclosure rules do not require spouses to declare their incomes.

She also holds rental property worth between $100,000 and $250,000 in Anchorage, with income of between $15,000 and $50,000.

Not all is owned free and clear, however. The senator reported two mortgages -- one of between $500,000 and $1 million on commercial property and one between $50,000 and $100,000 on rental property, both in Anchorage, the Fairbanks Daily News-Miner reported.

Like her father, the senator also is involved with Alaska's banking industry.

She sits as a director of First Bank in Ketchikan, which paid her $3,900 for her services, and she owns bank shares worth $15,000 to $50,000, which earned her another $2,500 to $5,000.

Gov. Murkowski owns between $1 million and $5 million of shares in the bank, and reported between $100,000 and $1 million in dividends.

Sen. Murkowski also owns between $15,000 and $50,000 worth of shares in Wells Fargo, previously National Bank of Alaska. Her parents own between $1 million and $5 million of shares in Wells Fargo, which earned them between $50,000 and $100,000 last year.

Sen. Murkowski declared a list of 23 stock and bank accounts worth between $1,000 and $15,000. Another account with Wells Fargo holds between $15,000 and $50,000.

Sen. Murkowski, an attorney, is sole proprietor of her law office in Anchorage. She also has served on the board of the nonprofit Boys and Girls Clubs of Alaska since 1998.

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