Bloomberg News

Mets Ruling Would Give Madoff Family $82 Million, Trustee Says

October 27, 2011

Oct. 27 (Bloomberg) -- Bernard L. Madoff’s family would retain about $82 million of “other investors’ money” under a ruling by U.S. District Judge Jed Rakoff that limited the trustee to claiming from the owners of the New York Mets only two years of withdrawals from the Ponzi scheme, the trustee said in a court filing.

The confidence man’s family withdrew $141 million in the six years before Madoff’s firm went bankrupt in 2008, of which less than $59 milllion was taken in the two years before the bankruptcy, trustee Irving Picard said yesterday in the filing in U.S. District Court in Manhattan.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Charles Carter at ccarter12@bloomberg.net


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