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March 19, 2012 3:46 pm

New York Mets Owner Settles for $162 Million In Madoff Case

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Citi Field, home of the New York Mets. Photo: wiki commons.

ESPN – The New York Mets owners and a trustee for Bernard Madoff’s fraud victims have settled for $162 million in a case aimed at repairing the damage from a massive investment scheme.

The agreement was announced Monday by Judge Jed Rakoff just as a civil trial was set to begin in U.S. District Court in Manhattan to determine if the team’s owners might owe as much as $386 million because they were among those who made significantly more than their original investment in Madoff’s investment company.

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