American Securities Management LP, a business partner of the owners of the New York Mets, was targeted in a revised lawsuit by the liquidator of Bernard Madoff’s firm demanding $91.9 million that allegedly was taken out of the con man’s firm since January 2000. After meeting Fred Wilpon and Saul Katz, owners of Major League Baseball’s Mets, the company, formerly known as American Securities LP, joined with the Mets owners’ Sterling Equities Inc. in 1991 to create a $4.5 billion-asset real-estate investment company, Sterling American Property Inc., according to Madoff trustee Irving Picard. Madoff was among the investors, Picard said in a bankruptcy court filing yesterday in Manhattan. Read more on Bloomberg Businessweek here.
