The New York Mets� owners may still have to pay $1 billion to the trustee liquidating Bernard Madoff� s investment firm after a judge dismissed most of the counts in his lawsuit while leaving intact the primary claims in the complaint.
The trustee, Irving Picard, sought $300 million in profit and $700 million in principal from Fred Wilpon, Saul Katz and other defendants. To get the principal, the trustee must prove � the defendants willfully blinded themselves to Madoff Securities� fraud,� U.S. District Judge Jed Rakoff said in his ruling today. To recover the profit, Picard must � simply� prove they didn� t give equal value back for money received, Rakoff said.
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