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Friday, February 4, 2011

NY Mets owners hit with $300 mln Madoff lawsuit

The owners of the New York Mets turned a blind eye to Bernard Madoff's Ponzi scheme and should give up roughly $300 million of fictitious profits tied to the now imprisoned swindler, a lawsuit charges. Irving Picard, the court-appointed trustee recovering money for Madoff's victims, claims the partners at Sterling Equities, including the Mets' Fred Wilpon, "were simply in too deep -- having substantially supported their businesses with Madoff money -- to do anything but ignore the gathering clouds. "Despite being on notice and having every resource at their disposal to investigate the litany of legitimate questions surrounding Madoff," Picard said, "the Sterling partners chose to do nothing."

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