NY Judge Requires Mets' Owners to Prove Goodwill
Wednesday, March 14, 2012 - 07:41 PM
Disgraced financier Bernard Madoff passes a police barricade as he arrives at court on March 12, 2009 in New York City
(Getty)
A federal judge says New York Mets owners must show a jury next week they weren't willfully blind to a gigantic fraud carried out by their friend, Bernard Madoff.
Judge Jed Rakoff in Manhattan said in a two-page order Wednesday that the burden will rest with the owners rather than a trustee recovering money on behalf of thousands of cheated Madoff investors. A trial is set to begin Monday on a lawsuit seeking $1 billion from the Mets. The trustee says the Mets owners knew or should have known that Madoff was operating his multi-billion-dollar fraud. He is serving 150 years in prison.
Rakoff earlier ruled the Mets owners owe up to $83 million. He has limited the amount the trustee can recover at trial to just over $300 million.
Leave a Comment
Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.