News: Wilpon loses $300 Million

by Matthew Cerrone on December 13th, 2008 at 11:35 am

In the Daily News, Greg B. Smith explains, “The company that owns the Mets was one of a handful of ultra-wealthy investors prosecutors say were duped by Wall Street wheeler-dealer Bernard Madoff.”

According to CNBC, Fred Wilpon and partner Saul Katz, though their investment entity Sterling Equities, could have lost as much as $300 million.

The Mets issued a statement yesterday, which read, “This news does not affect the day-to-day operations and long-term plans of the Mets organization and the Citi Field project.”

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