Fred Wilpon

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Bill Maher Buys Stake in Mets

Helps favorite team battle through debt

(Newser) - The Mets have found an unlikely hero: Lifelong fan Bill Maher has snapped up a minority stake in the team as it struggles to overcome its debt . He says he was inspired to make the purchase after reading that the owners were selling a dozen such stakes. "First of... More »

Mets’ Owners Settle Madoff Case for $162M

Money to come from bosses' payout as Madoff victims

(Newser) - The New York Mets' owners have avoided a trial over what they knew about Bernie Madoff's Ponzi scheme by settling today with the trustee for Madoff victims for $162 million, the New York Times reports. Trustee Irving Picard had sued Fred Wilpon and Saul Katz for $1 billion (later... More »

Mets' Owners Won't Lose All Their Madoff Money

Judge gives partial victory to both sides in lawsuit

(Newser) - The New York Mets' owners may have to return some of $300 million in profits they made dealing with Bernie Madoff, but their $700 million principal is probably safe. A judge has decided that for trustee Irving Picard to pursue the Mets owners' principal investment, he must prove that they... More »

Mets Owners: We Knew Nothing of Madoff Scam

First angry response to 'clawback' suit

(Newser) - Though they made millions in profits from Bernard Madoff's phony investment scheme, owners of the Mets knew nothing about the fraud and aren't about to turn over a dime of their money to fleeced investors, they argue in court documents. Lawyers for Fred Wilpon and Saul Katz have filed a... More »

Mets Owners Made $300M Off Madoff Scheme: Suit

Bosses 'categorically reject' claim

(Newser) - The New York Mets’ two owners, along with their businesses and families, made some $300 million in fictitious profits from Bernie Madoff’s Ponzi scheme—putting them among its top beneficiaries, says a lawsuit unsealed today. The Mets withdrew some $90 million from the team’s 16 accounts with Madoff,... More »

Madoff-Burned Owners Must Sell Mets: Author

Mets call remark 'completely irresponsible'

(Newser) - The Wilpon family will have to sell the New York Mets after losing $700 million to Bernie Madoff's Ponzi scheme, according to an author who wrote about the money manager. “It's possible they would have to sell by next year,” says Erin Arvedlund, author of Too Good to ... More »

6 Stories