Monday, April 21, 2014

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Mets Owners Ordered To Pay Into Madoff Victims Fund

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TWC News: Mets Owners Ordered To Pay Into Madoff Victims Fund
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A federal judge on Monday ruled that owners of the New York Mets owe up to $83 million to the trustee recovering money for the victims of Bernard Madoff's Ponzi scheme.

U.S. District Judge Jed S. Rakoff decided there will be a trial to decide whether Mets owners Fred and Jeff Wilpon and Saul Katz should owe even more, although he expressed doubts that the team would end up paying more.

The trustee had originally sought $1 billion from the owners but the judge had previously set the limit to $386 million.

The Mets' owners deny knowing Madoff was acting illegally in his Ponzi scheme and say they look forward to demonstrating that as they prepare for trial.

A spokesperson for the trustee says he is reviewing the judge's decision.

Madoff is currently serving a 150-year prison sentence. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP