Madoff Trustee Presses $1B Suit Against Mets Owners

Law360, New York (May 19, 2011, 9:40 PM EDT) -- The trustee overseeing the liquidation of Bernard L. Madoff Investment Securities hit back at the New York Mets owners on Thursday and urged a bankruptcy judge to allow his $1 billion clawback suit to proceed.

In a memorandum filed in New York bankruptcy court, Madoff trustee Irving Picard reiterated his argument that Fred Wilpon and Saul Katz, who own the Mets through Sterling Equities Inc. and Sterling Mets LP, ignored warning signs that Madoff's investment firm was a Ponzi scheme and said their motion to dismiss...
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