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Mets settle Madoff clawback case

New York Mets ownership will enter the 2012 season without some huge financial uncertainty, settling for $162 million a lawsuit alleging they had willfully ignored signs of fraud committed by Bernie Madoff. The lawsuit, brought by trustee Irving Picard, called for Fred Wilpon and Saul Katz — owners of the Mets — to pay $300 […]

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Citi Field debt downgraded by Moody’s because of Mets-Madoff connection

More bad news for Fred Wilpon and Saul Katz: debt of Citi Field has been downgraded by Moody’s because of concerns over ties between the New York Mets ownership and disgraced felon Bernie Madoff, as well as an impending clawback lawsuit. “While the ultimate outcome of the litigation and the timeframe for final resolution are […]

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Madoff, Mets finances more intertwined than assumed: report

To date the Wilpons have downplayed their financial ties to Bernie Madoff, characterizing their investments as somewhat limited. It’s now coming out that the relationship was more significant, with the team also investing deferred player payments with Madoff. The New York Times outlines the relationship between the Wilpons and Madoff: When the Mets negotiated their […]

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