The deal is part of a contract negotiated by Bonilla’s agent Dennis Gilbert, which will pay Bonilla $1,193,248.20 every year until 2035.
Wilpon believed he was getting a huge return on his investments through Madoff but the Mets owner turned out to be a victim of Madoff’s infamous Ponzi scheme
Instead of paying Bonilla outright, Wilpon opted to defer payments so that the money could be unwittingly invested into Madoff’s Ponzi scheme.
Madoff was the mastermind of the most notorious Ponzi scheme in history.
A Ponzi scheme is a form of fraud that uses funds from more recent investors to pay profits to earlier investors, leading them to believe that their investments are part of a successful enterprise.
Madoff is serving 150 years in prison for the multibillion-dollar scheme that he ran for decades.
