With the announcement of a $162 million settlement with the owners of the New York Mets, Irving Picard can now claim to have recovered more than half of the $17.3 billion in principal he estimates investors lost in Bernard Madoff's Ponzi scheme. Yet it may be Picard's own recoveries--and not the Mets owners themselves--that wind up funding the latest deal.
Davis Polk Guides Mets Owners to $162 Million Deal with Madoff Trustee
March 19, 2012
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