Madoff Fraud hit out of the ball field and into the courtroom
In a fight for his team NY METS Owner, Fred Wilpon, may have to seek additional funding for the New York baseball team. The major securities fraud case against Madoff may have seen some of the money taken from fraud victims by Madof’s enterprise filtered into the Mets baseball team. Wilson’s money may be tied up in court as part of the Madoff litigation suit. Some report that the team owners should have known the fraud was occurring as the owners were more than likely aware that Madoff was not in the business of trading. The team owners were named as part of the litigation filed by New York attorney, Irving Picard, the bankruptcy trustee representing the victims of the Madof fraud. Irving alleges the team owners cashed out more than they put in, and called them “net winners” therefore, they should have to release some of the funds as part of the recovery in the suit.
Stock broker fraud can be misrepresentation of the risk associated with an investment to theft of your savings. South Florida has seen stock brokers misdeeds from churning to inappropriate investments of the savings of investors here in Fort Lauderdale and Boca Raton.
If you believe your South Florida stock broker has committed a fraud contact a Florida securities fraud attorney for a consultation.