Mets Owners Cry Foul Over Madoff Trustee's $1B Suit

Law360, New York (March 21, 2011, 7:26 PM EDT) -- The owners of the New York Mets asked a bankruptcy judge on Sunday to dismiss a suit brought by the trustee representing victims of Bernard L. Madoff's Ponzi scheme seeking more than $1 billion in alleged fictitious profits and fraudulent transfers.

In a motion filed in the U.S. Bankruptcy Court for the Southern District of New York, Fred Wilpon and Saul Katz, who own the Mets through Sterling Equities and Sterling Mets LP, dispute trustee Irving Picard's assertion that they ignored warning signs that Madoff’s enterprise...
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