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New York Mets settle with Madoff victims for $162 million

Madoff victims' trustee drops claim of “willful blindness” against team owners

The New York Mets can stop worrying about legal problems and focus on getting back to a .500 season after team owners reached a $162 million settlement in a suit brought by a trustee for Bernie Madoff’s fraud victims. The deal came hours before Monday’s jury selection was set to begin.

According to the original suit, brought by trustee Irving Picard, principal Mets owners Fred Wilpon and Saul Katz knew that Madoff was defrauding clients, but continued investing with him for 25 years. Wilpon and Katz said they had no idea Madoff was running a Ponzi scheme.

Alanna Byrne

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