Mets owners ask high court for help in Madoff case
Thursday, February 9, 2012
NEW YORK (AP) -- The New York Mets' owners want the Supreme Court to decide whether only those investors who lost money should get a share of proceeds recovered from Bernard Madoff's Ponzi scheme.
Sterling Equities Associates, which owns the Mets, on Feb. 3 asked the high court to hear the case. It will likely take months before justices decide if they will.
Thousands of investors lost billions of dollars before Madoff revealed his scheme in 2008. Judges repeatedly agreed with a trustee trying to recover money for investors that only those who lost their original investment can get a portion of what he recovers.
Trustee spokeswoman Amanda Remus says the Supreme Court should decline to hear the case because Sterling Equities is offering the same arguments that were already rejected by lower courts.