Mets Owners Sued in Madoff Retribution Campaign

Mike Taylor — Tue, 07 Dec 2010 20:13:14 -0400

Bernie Madoff Ponzi avenger Irving Picard is doing something long-suffering Queens baseball fans have often dreamed of: He's suing the owners of the New York Mets.

Of course, Mr. Picard isn't seeking redress for the team's ignominious standing in major-league baseball. Instead, he's going after Mets owner Fred Wilpon, Sterling Equities and others as part of his effort to collect ill-gotten profits from investors in the Madoff fraud. The Mets' owners have gained about $48 million -- or about two and a half years' salary for center fielder Carlos Beltran -- from the Ponzi scheme.

The Mets owners are the latest to join Mr. Picard's ever-growing list of defendants. JPMorgan Chase and HSBC are also recent entrants.

mtaylor [at] observer.com | @mbrookstaylor

Observer » Mets Owners Sued in Madoff Retribution Campaign

Mets Owners Sued in Madoff Retribution Campaign