The trustee recovering money for thousands of investors said Monday that a half-billion-dollar settlement has been reached with two financial funds that invested with Ponzi schemer Bernard Madoff.
The appeals court said the Securities and Exchange Commission’s actions and “regrettable inaction” are shielded by rules protecting government employees from lawsuits when they carry out a discretionary function or duty.
Spring training is all about optimism, and Mets owner Fred Wilpon delivered a large dose of it Wednesday in Port St. Lucie.
According to the New York Post, owners Fred Wilpon and Saul Katz have refinanced $450 million in loans that were borrowed against SportsNet New York, the cable network which airs the vast majority of Mets game throughout the season.
The decades-long fraud cost investors about $17.3 billion, Picard estimated. Since becoming the trustee for victims swindled in the scheme, Picard said he has recovered more than $9 billion.
If you were a victim of Bernard Madoff’s massive Ponzi scheme, there is some you might want to hear.
“He was desperately disappointed that the Mets’ case didn’t go to trial. He was hoping the Mets’ defense would make the case he’d been making to me — that they had no reason to doubt Madoff,” biographer Diana Henrique said.
The Wilpon/Katz group claimed a big victory in court today when they reached an overwhelmingly positive settlement. Steve Kallas explains it all…
The trustee recovering money for investors swindled by Bernard Madoff may need a perfect pitch to a jury Monday to force the New York Mets owners to pay up to $303 million.
Hall of Fame pitcher Sandy Koufax is among witnesses scheduled to testify at a trial next week to determine if the New York Mets’ owners must give up millions of dollars they received from jailed financier Bernard Madoff.
Judge Jed Rakoff, as promised, today filed a four-page order summarizing his holdings on motions by both Irving Picard (the Trustee) and the Katz/Wilpon defendants in the once-upon-a-time $1 billion dollar lawsuit in federal court in lower Manhattan.
The Mets struck out in court Monday. A federal judge has ordered the team to pay up to $83 million to the trustee recovering money for Bernard Madoff investors.
I hate talking about and reporting the legal-ese of the Madoff case but yet another ruling came through today and so I once again called my legal contacts to interpret what it all means.
Arguing on the trustee’s behalf, attorney David Sheehan scoffed at attempts to portray the Mets owners as “unsophisticated run-of-the-mill guys.”
With the sun beaming on baseball again, hope springs it annual leak for most MLB clubs. Except in Queens, where the sun rarely rises.