Members of the Senate Judiciary Committee are considering whether to investigate the past business dealings of CIA Director William J. Casey, including possible involvement with fugitive financier Robert Vesco.

A spokesman for Sen. Dennis DeConcini (D-Ariz.) confirmed that the senator yesterday afternoon began exploring whether Republicans, who control the Senate, will authorize funds to conduct an investigation.

It was learned that DeConcini began negotiating with colleagues after noting that one company that joined Casey in a farm product scheme between 1968 and 1971 was controlled by Investors Overseas Services, the mutual fund Vesco is charged withlooting for more than $200 million.

IOS reportedly owned nearly 10 percent of the company, Multiponics, through an IOS subsidiary, IIT, a Geneva-based mutual fund.

It was disclosed Tuesday that a federal judge in New York ruled in May that Casey had misled Multiponics investors by not telling them that large amounts of the company's assets were being used to guarantee his own mortgage.

Casey has been confirmed by the Senate for four top-level jobs, and during his hearings has been asked about his role in urging the Securities and Exchange Commission's chief investigator, Stanley Sporkin, to postpone a Vesco probe.

During a trial of former U.S. attorney general John N. Mitchell in 1974, Casey, as a prosecution witness, said that while serving as SEC chairman he asked Sporkin to postpone taking depositions in the Vesco case until after the 1972 election. Casey then admitted that he made that request on the same day Vesco donated $200,000 in cash to President Nixon's re-election committee.

Sporkin has testified since that nothing improper occurred, because he refused Casey's request. Sporkin left the SEC this year to serve as chief counsel at the CIA.