Mets Ownership Settles With Trustee For Madoff Fraud Victims
Published at
Photo by Marc Serota/Getty Images(NEW YORK) — The owners of the New York Mets have agreed to pay the trustee for Bernie Madoff fraud victims $162 million. Jury selection for a civil trial that would have determined how much Fred Wilpon and Saul Katz, the principal owners of the Mets, would have had to pay to the victims was scheduled for Monday.
Madoff, who bilked about $20 billion from investors he worked for, is currently serving a 150-year prison term. A judge already ruled Mets ownership had to pay back an additional $83.3 million in profits they made from investing with Madoff. The team has had to cut payroll as a result of the lawsuit brought by Irving Picard, the trustee.
Copyright 2012 ABC News Radio