Irving Picard: Can he prove Wilpon was a willing participant in Ponzi scheme?
Michael O’Keefe of the Daily News reported about some new documents filed by the Mets in Manhattan federal court on Thursday as they continue to push for a summary judgement to dismiss the suit by trustee Irving Picard, before it goes to trial on March 19.
Mets lawyers are arguing that Picard has failed to prove that the Mets’ owners suspected Madoff was running a Ponzi scheme and took deliberate action to avoid confirming the fraud. The papers outlined several inaccuracies and inconsistencies with what Picard alleges in his complaint.
Picard mischaracterized testimony from Peter Stamos, a partner in a hedge fund created by Wilpon and Katz, when he claimed Stamos had warned them about Madoff.
“The trustee has now deposed Mr. Stamos twice,” Thursday’s filing said. “Both times, under oath, Mr. Stamos stated categorically, emphatically, and unflinchingly that, up until the day Madoff’s fraud was disclosed, h...