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Lawsuit Claims Owners Were Using Madoff Money To Fund New York Mets

Feb 07, 2011 | 3:15 PM    Written By:
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Lawsuit Claims Owners Were Using Madoff Money To Fund New York Mets

While Bernie Madoff may be spending the rest of his life playing checkers with old mob bosses in Federal prison, the ripple effect left behind from his ponzi scheme is still causing problems for many of his former investors. According to Forbes, a new lawsuit is claiming that "Fred Wilpon and Saul Katz, the two owners of the New York Mets through the Sterling Partners holding company,  used their Bernie Madoff accounts (BLMIS) to fund the MLB team." The suit also allleges that there were $84.6 million in fictitious profits transferred to the Mets. The MLB team is in hot water these days as news of the Mets needing to clear $30 million in profits this season just to make their debt payments was released to the press last week. Sounds like Madoff had his hands in everything!

 

 

 

Source:Forbes.com

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