Report: Mets owner victimized in Wall St. scam

New York Mets owner Fred Wilpon and former Philadelphia Eagles owner Norman Braman were among the dozens of seemingly sophisticated investors who placed money on what could prove to be history's largest financial scam, amounting to tens of billions of dollars in losses, The Wall Street Journal reported.

Bernard Madoff, the founder and primary owner of Bernard L. Madoff Investment Securities LLC in New York, was arrested and charged Thursday. Prosecutors allege that the 70-year-old Wall Street veteran hid losses, paying certain investors returns using principal he received from other investors.

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Author: Fox Sports

Author's Website: http://www.foxsports.com

Added: December 14, 2008