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10/21/09
Mets owners made millions in Madoff investments
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The Mets Limited Partnership, which is connected to the Wilpon family, made about $48 million in its dealings with investor-turned-thief Bernie Madoff, Reuters reports.

The group, led by Fred Wilpon, made deposits of $522.8 million in two accounts with Madoff and withdrew $570.6 million, according to a court filing made Monday by court-appointed trustee Irving Picard.

The Mets did not have comment for Reuters as of Tuesday morning.

Earlier reports coming out of New York newspapers and a book by Erin Arvedlund about the Wilpon family claimed that the family might be forced to sell the baseball team because of losses suffered in the Madoff scheme.

Picard, the liquidator appointed by the court, has filed lawsuits against some Madoff investors who profited from the Ponzi scheme, seeking to recover approximately $15 billion. The Mets Limited Partnership hasn't been sued, according to the Reuters report.
 


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