The trustee liquidating Bernard L. Madoff Investment Securities LLC filed a mass appeal asking the U.S. Court of Appeals in Manhattan to revive about $10 billion in lawsuits against 635 customers that have been or will be dismissed by U.S. District Judge Jed Rakoff.
New York Mets owner Fred Wilpon says the $1 billion lawsuit filed by Irving Picard on behalf of people who lost money in the Bernard Madoff scandal may cost him ownership of the team, Sports Illustrated reported.
The trustee in the Bernard Madoff bankruptcy is seeking more than $295 million from the owners of the New York Mets, claiming they ignored warnings of the fraud because they were “in too deep” financially.
New York Mets owner Fred Wilpon said the team overpaid for outfielder Carlos Beltran and called third baseman David Wright “a very good player. Not a superstar,” according to an article in the New Yorker magazine.
The owners of the New York Mets can spend opening day focused on David Wright’s bat and not Bernard Madoff’s fraud after agreeing to settle a $303 million lawsuit brought by the liquidator of the convicted con man’s firm.