Trustee Seeks Hundreds of Millions from Mets Owners Over Madoff Fraud

The New York Times reports:

The trustee representing the victims of Bernard L. Madoff’s multibillion dollar Ponzi scheme is seeking hundreds of millions of dollars from the owners of the Mets, alleging that they, as longtime and successful investors, knew or should have known Madoff was operating a fraud, according to two lawyers involved in the case.

The trustee’s lawsuit against the Mets takes aim at roughly 100 financial entities owned or controlled in part by the Mets owners Fred Wilpon and Saul Katz, and could imperil the assets held by the two men, an array of holdings that includes the baseball team, the regional cable sports network that televises its games, as well as commercial real estate holdings and investment funds.

An article well worth your time.