For Madoff trustee, Mets suit a hard sell
The trustee recovering money for investors swindled by Bernard Madoff may need a perfect pitch to a jury Monday to force the New York Mets owners to pay up to $303 million to repay victims cheated of billions of dollars during the financier’s decades-long fraud. U.S. District Judge Jed Rakoff says he’s skeptical that lawyers for Trustee Irving Picard can succeed in convincing a nine-person civil jury that the Mets owners believed that Madoff’s business was a fraud but continued their investments anyway because they were making a lot of money. Lawyers for the owners insist their clients had no idea the former NASDAQ chairman was cheating thousands of investors of their roughly $20 billion investment for at least two decades. The judge already has ruled the team’s owners must pay up to $83.3 million.