The Mets & Madoff: $162 Million Later

Mets’ owners agree to settle Madoff suit for $162 million

The New York Times

Fred Wilpon and Saul Katz, the owners of the Mets, settled the federal lawsuit brought against them by Irving H. Picard, the trustee for the victims of Bernard L. Madoff’s Ponzi scheme, for $162 million. Picard, in turn, dropped all claims that the men turned a blind eye to warnings that Madoff was operating a fraud during their many years of investing with him.

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NY Mets Owners Deny Insurance Shopping Spree

We didn't shop for Madoff Ponzi insurance: NY Mets

Reuters

Fred Wilpon and Saul Katz, principals at Sterling Equities, said they did not pursue coverage under a "one of a kind" insurance policy in 2001, which might have signaled they feared fraud more than seven years before Madoff was caught.

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