Rumor also has it that the Wilpon’s also withdrew somewhere in the area of 550 mil to use for the CitiField construction. They also thought that they had over 500 mil still left in the investment after the large withdrawal.This is the second ponzi scheme the Wilpon’s have been involved in over the past few years. In 2009 Fred Wilpon and co-owner Saul Katz agreed to turn over 12.9 million after their firm, Sterling Securities withdrew 30 mil from a Hedge fund named Bayou Group which was a ponzi scheme.
Interesting information, thanks. Does the fact that the Wilpon’s were investors in two major ponzi schemes mean they were in on the schemes or are just really dumb? Given the manner in which they have run my Mets, I’m guessing dumb.
N-i-c-e input. Thanks.