Skip to content
Subscriber Only

Mets Owners ‘Refuse’ to Return $300 Million, Picard Says

A lawyer for the trustee liquidating the estate of Bernard L. Madoff said Mets owners Fred Wilpon, Saul Katz and the Sterling Equities Inc. partners “refuse to return” $300 million in “other people’s money” received from the jailed con man.

Trustee Irving Picard’s lawyer, David Sheehan, made the statement yesterday as part of a move to persuade a bankruptcy judge not to dismiss Picard’s $1 billion lawsuit against the Mets owners. In addition to $300 million in what he called “fictitious profits,” the trustee is seeking the return of their principal invested with Madoff.