Scam Impacts the Mets

The impact of Bernie Madoff's Ponzi scheme is still being felt as the liquidator continues to search for assets. The latest victim has been found to be the New York Mets Baseball team.

As many former "investors" with Bernie Madoff are finding out is they may never recover the money they gave to the fictitious investment, they may also owe the liquidator any of the fictitious profits received as well.

According to a article on the Bloomberg website The New York Mets Baseball franchise could have to repay up to 383 million dollars, including "Profits" estimated are in the order of 83 million. The club used the funds to provide working capital, insurance and compensation.

Unfortunately this could also ruin the struggling franchise. Check the video from Bloomberg below...

The impact of schemes like this are far reaching, and we can expect more victims in the future. Unfortunately, in this case, it is the Met's baseball fans that will have to pay for this.

Financial Blog of Mike Hassard | Life Insurance Debt Investing Mutual Funds |

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