Mets Owners Deny Shopping For Madoff Fraud Insurance

Law360, New York (June 21, 2011, 3:52 PM EDT) -- The owners of the New York Mets on Monday challenged claims by the trustee in the Bernard L. Madoff bankruptcy that they searched for fraud insurance to protect their investment with the disgraced financier years before his massive Ponzi scheme was exposed.

In their latest push to nix bankruptcy trustee Irving Picard's $1 billion lawsuit against them, Sterling Equities Inc., Fred and Jeff Wilpon, and other members of the Mets ownership group said they never considered buying fraud insurance on their investments with Madoff because they...
To view the full article, register now.