Friday, December 12, 2008

Mets Owner Scammed for $300mm

Apparently Fred Wilpon, owner of MY New York Mets, was involved in the Madoff scam. According to Dealbook (hat tip Dom):

Sterling Equities, the investment firm led by Fred Wilpon that owns the New York Mets baseball team, said Friday that it had accounts at Bernard L. Madoff Investment Securities and was “shocked” by his fraud confession.

Sterling Equities may have had as much as $300 million with Madoff, CNBC reported.
Ouch... well at least Forbes shows his investment in the Mets has proven to be more valuable.

And to think... just a few days after the Yankees' owner was ripped off for a little more than $160 million.

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