The future of Wilpon, brother-in-law Saul Katz and family as Mets owners rests with that federal judge right now. Although a jury ultimately could decide how much the family owes, Rakoff will determine whether the case will ever go to trial. Rakoff announced that he will rule by late September whether to toss all, or part, of the $1 billion lawsuit against the Wilpons. Read ESPN NY report [...]

When Richard Shapiro discovered that his entire pension plan, along with millions of dollars he had saved over the years, was wiped out at the hands of Bernard Madoff, he fell into a deep depression. Read more in the Jewish Week [...]

When Bernard Madoff was arrested nearly three years ago for one of the largest cases of financial fraud in history, many couldn’t believe it went undetected a long as it did. Then it came out that one man uncovered the Ponzi scheme and went to the Securities and Exchange Commission five times to expose it to the agency. That man is Harry Markopolos. Click here for CBS News Video and [...]

We’ve all heard that the road to hell is paved with good intentions. And perhaps that’s what makes the story of Bernie Madoff so sad; the disgraced financier who was responsible for the largest Ponzi scheme in history, which bilked investors out of $65 billion, insisted in one of his prison interviews that he “always wanted to please people.” Read Litchfield County Times article [...]

A $1 billion lawsuit lodged against the owners of the New York Mets baseball team by the trustee for the victims of Bernie Madoff’s Ponzi scheme could be settled in a public trial by a jury. Read FinAlternatives report [...]

This past Friday, in federal district court in Manhattan, both sides (Sterling Equities (Wilpon/Katz, etc.) and Bankruptcy Trustee Irving Picard) presented oral arguments before federal judge Jed Rakoff on Sterling’s motion to dismiss the $1 billion dollar complaint against them and others. Read more on CBS New York [...]

The liquidator of Bernard L. Madoff’s firm defended a “clawback” lawsuit against a doctor who invested in the Ponzi scheme, saying a U.S. appeals court ruling backed up his claim that fictitious paper profits are an “absurd” measure of investors’ holdings. Read Bloomberg report [...]

Fred Wilpon, owner of the Mets, battling to toss a $1 billion lawsuit filed against the team’s corporate owners — a challenge, that if successful could cost him control of his team — will have to wait at least until next month for satisfaction. Read NY Post report [...]