The trustee in the Bernard Madoff Ponzi scheme case has settled one of the most prominent lawsuits he brought in his bid to collect money for the $65 billion fraud's victims,finalternatives reports.
The owners of the New York Mets this morning agreed to pay $162 million—almost twice the $83 million they were ordered to pay earlier this month. But the deal includes that $83 million and gives Fred Wilpon and Saul Katz five years to pony up—if they have to pony up at all. In addition, the trustee, Irving Picard, agreed to drop all allegations that the Mets owners knew or should have known that Madoff was up to no good.
The deal preempts a trial, set to begin today with jury selection….
Find out more at http://www.finalternatives.com/node/19962
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