Saturday, March 19, 2011

Madoff Trustee hits Mets with amended lawsuit seeking $1B

The New York Post reports:
The owners of the New York Mets today were slammed with an amended lawsuit that demands they now fork over a cool $1 billion to settle claims that they not only profited from investing in Bernie Madoff's massive Ponzi scheme, but also fraudulently transferred money while doing so.

Bankruptcy trustee Irving Picard in his original lawsuit against the Mets owners asked for about $300 million that he said they netted in profits from investing with Madoff over the years. He claimed they also turned a blind eye to evidence that Madoff was running a scam.


The Madoff situation continues to make news in the sports pages!