A federal judge in Manhattan ruled Monday that the contentious public battle between the owners of the New York Mets and the trustee overseeing the Bernard L. Madoff bankruptcy case will proceed to trial, continuing a case that has been marred by leaks and bombastic assertions for more than a year.
The Judge has ruled that New York Mets baseball team owner Fred Wilpon (pictured) and family must pay as much as $83.3 million in "fictitious profits" to trustee for investors and go to trial March 19 over an additional $303 million.
In order to recover up to $300 million more, the trustee must prove to a jury that the Mets’ owners were “willfully blind” to Madoff’s massive Ponzi scheme and ignored warnings that he was operating a fraud.
More here.
Comments