Ponzi And Pyramid Schemes

The Queens Tribune had an exclusive report that was too good to be true.

The owners completed the sale of shares in the team for $240 million and repaid millions in loans shortly before they settled the lawsuit against them.

A ruling last week that affected the burden of proof the Mets must meet might be enough to compel the beleaguered club to settle with the trustee for victims of Bernard L. Madoff’s Ponzi scheme.

Sandy Koufax, the former pitcher, and Robert M. Morgenthau, chairman of the Police Athletic League, are among those the Mets intend to call to testify.

Sandy Koufax, the former pitcher, and Robert Morgenthau, chairman of the Police Athletic League, are among those the Mets intend to call to testify.

The judge says he will select the jury in about an hour.

The judge could allow the trustee for Bernard L. Madoff’s victims to sue Fred Wilpon and Saul Katz, or he could dismiss the case.

To the court-appointed trustee suing the co-owners of the Mets, the Madoff “vig” was evidence of the men’s faith in Madoff’s steady investment returns, and their dependence on them.

John Maine is the sole expert witness for Fred Wilpon and Saul Katz, as they battle accusations by the trustee for Bernard L. Madoff’s victims that they turned a blind eye.

A trustee seeks hundreds of millions for victims of Bernard L. Madoff’s Ponzi scheme, and a trial is scheduled to begin on March 19.

A ruling by a federal judge against the Madoff trustee makes it appear likely that a lawsuit brought by the owners of the Mets will move to a jury trial.