Sterling Equities Inc. made money off Madoff scheme, may be sued for it

Remember all we heard about the Mets losing $700 million or more in the Bernie Madoff disaster?  Well, apparently they made money off of it. From Bloomberg… An entity tied to the New York Mets baseball team and its owner Sterling Equities Inc. might be sued for withdrawing $47.8 million more from Bernard Madoff’s firm than it deposited with the con man, a lawyer said. Mets LP placed a total of $522.7 million in two Madoff accounts and withdrew $570.5 million over an unspecified period, Irving Picard, the court-appointed liquidator, said in a filing Oct. 19 in U.S. Bankruptcy Court in New York. This is nuts.  First, they lost a ton of money.  Now, it seems like they made money.  But they might be sued for it. Oy vey. Who thought you had to be a finance major to be a Mets fan? [[ Home || Twitter || E-mail ]]