The reach of Bernie Madoff

By now the Jewish community has learned of the shanda that is Bernie Madoff (as in “made off with your dough”). Media both Jewish and ecumenical have opined on the possible impact his schemes might mean in feeding the stereotype of the greedy, money-loving Jew.

Madoff stands accused of ripping off individuals and, of particular concern to us, Jewish organizations who rely on contributions to do their good works.

As it turns out, the sports world was not immune. Fred Wilpon, owner of the New York Mets, had “invested” with Madoff, as reported in this recent article by our old friend Murray Chass on his website.

Once Wilpon began investing his and Sterling Equities money, he and Madoff became close friends. It was a natural relationship. Both were successful businessmen, and both had become prominent Jews in the New York business world.

Although reports say Wilpon did not invest any Mets money with Madoff (as in “made-a-f-ool” of a lot of people), it still raises eyebrows in the sports community.

But Wilpon didn’t invest Mets money; he invested Wilpon and Sterling Equities money. If the Mets were Wilpon’s only enterprise, he might have a problem because it would have been Mets money he invested.

Wilpon has not spoken publicly on the matter. He has spoken to Commissioner Bud Selig, and a baseball official said Selig is satisfied that Wilpon will not have a problem. And at a news conference the other day, Jeff Wilpon, the team’s chief operating officer, told reporters neither the Mets nor a part of the Mets is for sale.

---

Kaplan’s Korner on Jews and Sports © 2008 New Jersey Jewish News

Powered by WordPress | ElegantBlue theme by Nathan Rice