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Friday, December 12, 2008

Mets Owners Wilpons Among Those Fleeced In Emerging Madoff Ponzi Scheme

The New York Daily News reports that Mets owners Fred Wilpon is among those fleeced by Bernard Madoff's $50 billion Ponzi scheme. The Wilpons, with investment partner Saul Katz, could have lost as much as $300 million. The company refuses to say how much was invested or whether it will affect the operation of the Mets.

Update: Bloomberg News has more on this, including an excerpt of a released statement from Sterling Equities:

“This news does not affect the day-to-day operations and long-term plans of the Mets organization and the Citi Field project,” the team said in an emailed statement.

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