The New York Mets’ owners have been ordered to undergo a jury trial if the case against them by the trustee for the Bernard Madoff Ponzi scheme goes forward.
Can owner Fred Wilpon, who told Sports Illustrated this spring the Mets were “bleeding cash,” afford one of this offseason’s most desirable free agents?
The Mets could be forced to pay up to $386 million to resolve claims by Irving Picard — nowhere near the $1 billion he was originally asking for.
Any way you look at it, the 18-page decision filed yesterday by United States District Judge Jed Rakoff in the Mets/Madoff case has to be viewed as a win, even a vindication of sorts, for Mets owners Fred Wilpon and Saul Katz.
A judge is allowing a lawsuit to proceed in limited form against the owners of the New York Mets by the trustee recovering money for investors who lost money to jailed financier Bernard Madoff.
The owners of the Mets thought they had found their white knight. After months of what appeared to be friendly negotiations with a potential minority owner, though, the cash-strapped organization is left still looking for help. That may not be good for fans of Jose Reyes.
Picard said Thursday he has secured more than a billion dollars through settlements with associates of the second largest feeder fund group to invest with Madoff.
Mets executives argued Thursday that a lawsuit claiming they should have heeded warning signs of a 25-year fraud carried out by jailed financier Bernie Madoff is “a fiction” and should be thrown out. “There were no warnings,” lawyers for Mets ownership said.
A message to the Mets: Spend the extra dough; cough up the cash for the cachet. Keep the best player on your team who’s also playing like the best player in the National League.
Fred Wilpon’s “lousy club” could lose up to $70 million this year, according to a second headline-grabbing profile of the Mets’ embattled owner to surface this week.
A court-appointed trustee says the owners of the Mets reaped profits from Bernard Madoff’s financial Ponzi scheme even as they went “shopping” for insurance to protect themselves in case the scam collapsed.
Fred Wilpon and the Sterling defendants filed their own motion on Sunday after Irving Picard filed an amended complaint on Friday. Are they swinging for the fences? You bet they are.
Mets co-owners Fred Wilpon and Saul Katz and their investment fund, Sterling Equities, allege trustee Irving Picard made “false allegations” and omitted evidence favorable to the owners in order to force a settlement.
The trustee recovering money for investors in Bernard Madoff’s Ponzi scheme has filed new court papers that he says shows the cozy relationship between Madoff and the owners of the Mets.
Every time the men who run the Mets pout before a forest of microphones, it is we who become angry. Very few powerful people know when to quit, and with each hollow assertion and rampant denial, Fred Wilpon is being selfish, defiant, and destructive.