NEW YORK (CBSNewYork) – New York’s Archbishop Timothy Dolan said he doesn’t know whether to laugh or cry at accusations that his former Archdiocese in Milwaukee has hidden millions of dollars in assets.

Archbishop Timothy Dolan responds to the accusations (credit: CBS 2)

Dolan was asked about the investigation into missing funds underway in Wisconsin after Sunday Mass at Saint Patrick’s Cathedral.

“It’s so ludicrous to think that there were $130 million in hidden funds, like ‘Dolan’s got an offshore account in the Cayman Islands’ or something?  This is, this is just ludicrous,” Dolan said.

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A lawsuit on behalf of victims of sex abuse was accusing the Milwaukee Catholic Church of hiding as much as $130 million to avoid paying out settlements.

LISTEN: 1010 WINS’ Kathleen Maloney explains the allegations

Dolan said he has nothing to hide and would be happy to talk to any legal authorities about the matter.

Attorneys for the sex abuse victims said they want to question Dolan as part of their lawsuit. A spokesman for the New York Archdiocese told CBS 2 that Dolan would participate fully in the investigation if requested.

“Archbishop Dolan would welcome the opportunity to cooperate with any law enforcement people who are investigating the matter,” the spokesman said. “Any allegation that there was an attempt to shield money is preposterous. It is simply not true.”