The Mighty NY Post reports that the mighty Irving Picard has struck out. The trustee tasked with cleaning up Bernie Madoff’s massive Ponzi scheme has settled with the Mets for a measly $162 million. Picard had originally sued for $1 billion before a judge tossed out $700 million of his suit.
Picard, who at one point had 1,000 suits seeking nearly $100 billion in damages and “fictional” profits, has been striking out with some of his biggest cases. Last month, Judge Jed Rakoff tossed Picard’s $60 billion racketeering case involving Austrian banker Sonja Kohn. In November, another judge threw out $19 billion of Picard’s $19.9 billion case against JPMorgan….
Read more: http://www.nypost.com/p/news/business/picard_comes_up_short_YCoMXT1joIN2PKQl6hIu9O
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