(PORT ST. LUCIE, Fla.) — A U.S. District Court Judge in Manhattan ruled Monday that Mets owners Fred and Jeff Wilpon along with Saul Katz and their partners in Sterling Equities must pay as much as $83.3 million to the trustee overseeing the Bernie Madoff bankruptcy case.
Judge Jed S. Rakoff also ruled that trustee Irving Picard can continue with his lawsuit seeking an additional $303 million from the group. That lawsuit is expected to go to trial on March 19th.
Picard had claimed that the victims of the Madoff Ponzi scheme were entitled to additional $83,309,162 in profits allegedly made by the Wilpons two years prior to Madoff’s arrest.
Madoff is currently serving a 150-year prison sentence in North Carolina for masterminding the multi-billion-dollar Ponzi scheme.
Copyright 2012 ABC News Radio
Jill Martin, CNN
Eliott C. McLaughlin, CNN Newswire