Thursday, 2 April 2015
Last updated 11 hours ago
Feb 18 2011 | 3:12am ET
The owner of the New York Mets said yesterday that he and his family would be “vindicated” of allegations against them in the Bernard Madoff scheme.
Fred Wilpon spoke as the Mets opened spring training in Port St. Lucie, Fla. Wilpon and his Sterling Equities, which owns the team, have been sued for as much as $1 billion by the court-appointed receiver in the Madoff case; Wilpon and Madoff were long-time friends.
Last month, Wilpon said he would seek a minority partner to take a stake in the Mets, but vowed that the family would not give up control of the team. Reports indicate that he hasn’t found many takers for a minority stake—several people, including Donald Trump, have said they wouldn’t mind buying the team outright—but Wilpon has said he has spoken with interested parties.
As for the accusation that the Wilpons knew what Madoff was up to, the owner would have none of it.
“Allegations are not fact,” he said. “We have to now come back and tell you what our facts are, based upon facts, based upon the law. And our lawyers are doing that, and they will do that. And we will be vindicated.”
“By vindication, I mean, number one, everybody will know we have nothing to do with it and we didn’t know anything about it, and we were duped.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…