Madoff: Mets Owners 'Knew Nothing' of Ponzi Scheme

Filed under: Mets

The Mets' ownership group was unaware of the massive Ponzi scheme being run by Bernie Madoff, the disgraced financier said in an interview from prison.

Madoff told The New York Times that Fred Wilpon and partner Saul Katz "knew nothing" of the fraud, which cost investors billions.

Trustee Irving Picard has filed numerous lawsuits attempting to recoup profits for investors and has accused the Mets' owners of receiving $300 million in "fictitious profits" from the scheme. Wilpon, his son Jeff, and Katz have countered that they, too, were victimized by Madoff.

Madoff, 72, is currently serving a 150-year prison term in Butner, N.C.

 

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Source: http://mlb.fanhouse.com/2011/02/16/madoff-mets-owners-knew-nothing-of-ponzi-scheme/

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