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JewishJournal.com

April 14, 2009

Madoff Finally Sees Real Returns…on his Mets tickets.

http://www.jewishjournal.com/blog/item/madoff_finally_sees_real_returnson_his_mets_tickets_20090414/

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It seems not all of Bernie Madoff’s investments have been crippled by inflated promises and nonexistent profit.  His opening day Mets’ tickets earned a 614 percent return, selling for $7500 for the pair.

From CNBC:

“Bernie Madoff’s two tickets for Opening Day at the Mets new stadium Citi Field have sold on eBay for $7,500.

The tickets for Monday’s game in the Delta Club Platinum level were auctioned off by trustee Irving Picard.

The tickets might have been Madoff’s best investment yet. The face value of the tickets are $525 each, meaning the trustee’s return on investment was 614 percent.

But that profit of course represents only a small percentage of money that will eventually be seen by investors who lost so much in the ponzi scheme.

It appears as though the tickets themselves had a premium value associated with it because of Madoff’s name. A pair of two tickets near the Madoff seats can be had on StubHub for less than $2,000.” more at CNBC.com

 

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