New York Mets, Ponzi Scheme | featured news

Owners of the New York Mets baseball team have agreed to pay $162 million to settle a lawsuit by the trustee seeking money for victims of Bernard Madoff's fraud.

A judge ruled Monday that the New York Mets' owners owe up to $83 million to the trustee recovering money for Bernard Madoff investors, though he expressed doubt that the trustee will succeed in proving at a trial this month that he's entitled to as much as $300 million more....

The owners of the New York Mets were accused of reaping $300 million of fictitious profits from Bernard Madoff's record Ponzi scheme, a lawsuit by the trustee seeking money for Madoff's victims said.