Quote:
Originally Posted by TommyG-inFlaNow
Clift notes?
I don't follow Baseball too much but growing up in NJ, the Mets were always my team
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The Wilpons invested lots of $$ in Madoff's funds, which Madoff wasn't investing in companies, but using it for a ponzi.
Madoff 'promised' I think a 10% return every year, which is quite a promise. The Wilpons were in court testifying that they thought Madoff was investing properly, and that they didn't suspect they were facilitating a crook.
After a bunch of years the Wilpons were cleared of wrongdoing, but they lost lots of money when Madoff's fund collapsed.
Murf