Here is a brief video explaining what's happening with the Mets and their current situation. Video courtesy of Metsblog.
As I said in an earlier post, this situation is only going to get worse before it gets any better.
The New York Times reported today that the lawsuit by Irving Picard is not the only lawsuit filed against the Mets in regard to Madoff.
According to the article, Elyse S. Goldweber, a former employee at Sterling Equities Associates, filed a federal lawsuit which claims, "Wilpon and two other officers breached their fiduciary duties by offering employees the chance to invest their 401(k) plan with Madoff."
This is just getting ugly. After reading the article in the Times, I have to say, it sounds as though there were plenty of red flags when it came to Madoff, but as they say, hindsight is 20/20.
Tomorrow should be interesting with the unsealing of the trustee's complaint.
Stay tuned.
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