Bernie Madoff trustee Irving Picard is crying foul over a federal court ruling, claiming the decision to toss much of his case against the owners of the Mets will also cut recovery for Madoff victims by nearly $6 billion. Manhattan federal judge Jed Rakoff threw out nine of 11 counts brought by Picard against Mets owners Fred Wilpon and Saul Katz, and limited the trustee to clawing back money withdrawn in just the two years prior to Madoff coming clean.
Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn