2012 – New York Mets owners Fred Wilpon and Saul Katz, facing a $300 million lawsuit, agree to pay $162 million into a trust fund for victims of Bernard Madoff’s fraudulent investment scheme, thus averting a trial. The payoff is because the Mets were among the few investors who made money out of their investments in Madoff’s fund, while thousands of smaller investors lost everything when the whole house of cards collapsed in 2009. Wilpon and Katz will put up $29 million of their own money in the settlement.
On March 19, 2012 — 2012 – New York Mets owners Fred Wilpon and Saul Katz, facing a $300 million lawsuit, agree to pay $162 million into a trust fund for victims of Bernard Madoff’s fraudulent investment scheme, thus averting a trial. The payoff is because the Mets were among the few investors who made money out of their investments in Madoff’s fund, while thousands of smaller investors lost everything when the whole house of cards collapsed in 2009. Wilpon and Katz will put up $29 million of their own money in the settlement.
Sources –
Baseball Reference March 19
SABR Games Project
National Pastime March 19
Retro Sheet
Replay The Game