Mets Settle Madoff Case

I guess their defense was going to have to be that they really were morons who were so stupid that they ignored numerous red flags and proped Madoff to their friends. My guess is that the trustee thought that not having to testify to this seemingly true scenerio was worth some shekels in hush money.

 

In defense of the Mets' owners (and this hurts as a Yankees fan), the trustee might have had to show a bit more than the fact they should have known. Picard might have had problems showing that Wilpon would have been an active participant. I don't think Wilpon and Katz were involved in the stock market as a main business - I think Katz was involved in real estate.

People more knowledgable about markets than Wilpon and Katz were victims of Madoff. Madoff was the president of NASD, so it wasn't like he was some outsider.