Sports News Without Fear, Favor or Compromise
Sports News Without Fear, Favor or Compromise
Illustration for article titled Mets Owners Have To Pay Back $83 Million In Phony Madoff Profits, Have To Go To Trial Over $300M More

This is the worst news for the Mets in the last three days, non-valley fever edition:

U.S. District Court Judge Jed S. Rakoff ruled Monday that Mets principal owner Fred Wilpon, his family, businesses and charities must pay as much as $83 million to the trustee trying to recover funds to net losers in Bernard Madoff's Ponzi scheme. He also ruled that the sides will go to trial March 19 over an additional $303 million that [trustee Irving] Picard is seeking.

The Wilpons' lawyers had filed a motion to have the case tossed entirely.

Rakoff is tough on financial frauds, so this ruling is no shock. $83 million is just Jason Bay money. No problem there. The $303 million might cause some problems. To trial we go!


Mets must pay, go to trial [ESPN]

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