Sterling Baseball Organization
Author: Baseball Bob
So Bernie Madoff…. What about him?
Aside from the impact on stocks overall, the exposure of fraud on a massive scale is also devastating to individuals who trusted Madoff with their fortunes and to nonprofit organizations like Yeshiva University, which counted on Madoff’s purported secret trading system to help operate its institutions. Sterling Equities, the investment vehicle of the Wilpon family, which owns the New York Mets baseball team, had $300 million reportedly invested in Ascot. So did some wealthy investors who had money in related hedge funds who were never informed of ties to Ascot. Another private bank executive placed $10 million from a client just two weeks ago. He knew of another family that had $100 million with Madoff. A woman in California told us that she had lost everything with Madoff and another hedge fund.
-Forbes
Last line:A woman in California told us that she had lost everything with Madoff and another hedge fund.
Who the F**k would put all their money into stocks
“Who the F**k would put all their money into stocks”
Madoff didn’t sell stock, he (supposedly) sold funds. There’s a difference.
New York Baseball Subway Series Bet Repayed