Fred Wilpon Scammed?

The Mets could have a few less dollars to play around with this offseason after word leaked that owner Fred Wilpon was involved in what could turn out to be one of the largest Wall Street scams in history.

According to the Wall Street Journal, Wilpon along with former Eagles owner Norman Braman and many others were conned by Bernard L. Madoff, the founder and primary owner of Bernard L. Madoff Investment Securities, LLC:

“Mr. Madoff hid losses, paying certain investors returns using principal he received from other investors. Prosecutors and regulators have yet to determine how much has been lost, or the amount in assets still held by Mr. Madoff's business.”

What is known is that not only was Wilpon playing with his own money, he had also invested millions of the Mets' dollars and money from his family foundation, the Judy & Fred Wilpon Family Foundation into the tanking investment firm.

The number of A-list financial titans and organizations grows by the day, but as of Monday the list now includes, Carl Shapiro, Mortimer Zuckerman, Sen. Frank Lautenberg (D-NJ), Leonard Feinstein, J.Ezra Merkin, The Elie Wiesel Foundation for Humanity, Wunderkinder Foundation, Yeshiva University, UBS, EIM Group, Fairfield Greenwich Advisors, Maxam Capital Management and Ascot Partners.

Mr. Madroff was arrested and charged on Thursday in what estimates say his actions could have resulted in up to $50 billion in losses for his many clients.

Watch out Bernie, because the popo are on your tail!
(Photo: Don Hogan Charles/The New York Times; source via foxsports.com)