Monday, March 19, 2012

DEVELOPING: Mets Settle Madoff Numbers For $162M

((HT: MyFoxNY))

The owners of the New York Mets and the trustee trying to recover as much money as they can for victims of Bernie Madoff's Ponzi scheme settled Monday for $162 million.

The Mets owners will not pay anything for three years- considering they're not the most cash-rich at the moment...

Irving Picard, the court-appointed trustee chasing after the cash, sued the Mets owners, Fred Wilpon and Saul Katz, and anyone he could think of for more than $300 million- so, they end up with a little more than half that number...

The Mets owners, who invested with Madoff for more than 20 years, have said they had no idea about his business dealings and they feel just as played as everyone else.

Here's the latest... or the earliest...

Mets, Madoff trustee reach settlement:

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