Mets Owners Ask Supreme Court for Help
Sterling Equities Associates, which owns the Mets, lost hundreds of millions of dollars in Bernie Madoff's Ponzi scheme.
Mets owner Fred Wilpon.
Thursday, Feb 9, 2012 Updated at 12:01 PM EDT
The owners of the New York Mets want the Supreme Court to get involved in their attempt to recover money from Bernard Madoff's Ponzi scheme.
Sterling Equities Associates, which owns the Mets, appealed to the high court on February 3. It will likely take months before justices decide whether to hear the appeal.
Madoff ran a massive Ponzi scheme that cost thousands of investors billions of dollars. A trustee is trying to get back some of the money for investors.
Sterling Equities wants justices to reverse a lower court ruling. That ruling approved the way the trustee determined who can get money from a special fund set up for Madoff investors. Under the current ruling, Sterling would not be immediately eligible to participate in the recovery fund.
Copyright Associated Press