Wilpon and Katz served as buffers between investors and Madoff

22 Comments

Maybe Fred Wilpon and Saul Katz didn’t know anything about Bernie Madoff’s fraud, but after reading this in today’s New York Times do NOT tell me that they were “just like everyone else who was duped.”  Because as far as I know, no one else who was duped served as a buffer between everyday investors and Madoff, shielding him from any inquiries:

Mr. Wilpon and Mr. Katz marveled at Mr. Madoff’s record of success and talked of returns that would consistently outperform the market. But to be among those referred by the Mets’ owners, one had to agree to odd and puzzling terms that restricted direct contact with or questioning of Mr. Madoff. Sterling Equities, the family company that owns the Mets, would administer all the referred accounts and handle the transactions between the investors and Mr. Madoff’s firm.

Those invited into this rarefied club — including relatives of Sterling management, an investment banker who is also a supper club entertainer, a technology entrepreneur and a theater industry executive — would not send money to Mr. Madoff. Instead, it would be filtered through the Sterling partner and the Mets board member Arthur Friedman, a certified public accountant with a law degree who served as the liaison to Mr. Madoff’s operation.

Even if they hadn’t a reasonable doubt about Madoff in the world, the fact is that Wilpon and Katz were not mere victims like others were. They were a key part of his operation, however unwitting to the fraud, and they had higher duties than did common investors, and thus they have a greater responsibility to the other investors.

Rockies activate Ian Desmond from the disabled list

Chris Coduto/Getty Images
Leave a comment

The Rockies activated first baseman Ian Desmond from the 10-day disabled list on Sunday, the club announced. Cristhian Adames was designated for assignment to create roster space. Desmond is in Sunday’s lineup against the Diamondbacks, batting sixth.

Desmond, 31, signed a five-year, $70 million contract with the Rockies in December. In March, he was unfortunately hit by a pitch and suffered a broken left hand. He underwent surgery to repair the damage.

Desmond had been playing in extended spring training as a precursor to rehab games, but he looked so good that the Rockies decided to activate him from the disabled list a little early.

Aaron Sanchez exits game after one inning with a split fingernail

Getty Images
Leave a comment

This wasn’t how Aaron Sanchez was supposed to make his triumphant return from the disabled list. The Blue Jays’ right-hander was activated for his first start on Sunday after undergoing a minor surgical procedure to have part of his fingernail removed. According to MLB.com’s Gregor Chisholm, the surgery should have accelerated the healing process for a troublesome blister, and the team appeared confident in the right-hander’s ability to take the mound for the tail end of their homestand. Instead, Sanchez lasted just 13 pitches before exiting the game with a split nail on his right middle finger.

The team has yet to address Sanchez’s revised timetable for return, but Chisholm points out that they should be able to roll with their current rotation through May 9. If he sits out longer, the Jays could turn to left-hander J.A. Happ, who should be eligible to start sometime next month after he makes a full recovery from a bout of left elbow inflammation.

Sanchez, 24, entered Sunday with a 4.38 ERA, 2.9 BB/9 and 6.6 SO/9 through 12 1/3 innings with Toronto. He was replaced by right-handed reliever Ryan Tepera in the top of the second inning.