Bortezomib, Ascorbic Acid, and Melphalan in Treating Patients With Newly Diagnosed Multiple Myeloma

DISEASE CHARACTERISTICS: * Newly diagnosed symptomatic multiple myeloma based on the following criteria: * Durie-Salmon staging * Measurable disease, defined as a monoclonal immunoglobulin spike on serum electrophoresis of ≥ 1 g/dL and/or urine monoclonal immunoglobulin spike of ≥ 200 mg/24 hours * Symptomatic disease * No POEMS syndrome (plasma cell dyscrasia with polyneuropathy, organomegaly, endocrinopathy, monoclonal protein \[M-protein\], and skin changes) * No plasma cell leukemia PATIENT CHARACTERISTICS: * Karnofsky performance status 60-100% * Life expectancy \> 3 months * Platelet count ≥ 50,000/mm³ (30,000/mm³ if the bone marrow is extensively infiltrated) * Hemoglobin ≥ 8.0 g/dL * Absolute neutrophil count ≥ 1,000/mm³ * Creatinine ≤ 3 mg/dL * Sodium \> 130 mmol/L corrected * AST and ALT ≤ 3 times upper limit of normal (ULN) * Bilirubin ≤ 2 times ULN unless clearly related to the disease * Not pregnant or nursing * Negative pregnancy test * Fertile patients must use effective contraception * Any ECG abnormality has to be documented by the investigator as not medically relevant * No electrocardiographic evidence of acute ischemia or new conduction system abnormalities * No myocardial infarction or EKG evidence of infarction within the past 6 months * No active infection * No severe hypercalcemia (i.e., serum calcium ≥ 14 mg/dL \[3.5 mmol/L\]) * No New York Heart Association class III or IV heart failure * No uncontrolled angina * No severe uncontrolled ventricular arrhythmias * No active conduction system abnormalities * No poorly controlled hypertension * No diabetes mellitus * No known HIV infection * No known active hepatitis B or C viral infection * No history of grand mal seizures * No history of allergic reaction to compounds of similar chemical or biological composition to melphalan, bortezomib, boron, or mannitol * No peripheral neuropathy ≥ grade 2 within the past 14 days * No other serious medical or psychiatric illness that could potentially interfere with the completion of study treatment PRIOR CONCURRENT THERAPY: * More than 4 weeks since prior immunotherapy, antibody therapy, or radiotherapy * More than 4 weeks since prior major surgery * No prior therapy for myeloma * Prior prednisone at a total of 400mg over ≤ 4 days (or an equivalent potency of another steroid) allowed * No concurrent corticosteroids (≥ 10 mg prednisone/day or equivalent) * No other concurrent investigational agents * No other concurrent antimyeloma therapy