Fred Wilpon: We Will Be Vindicated in Madoff Suit - NBC New York

Fred Wilpon: We Will Be Vindicated in Madoff Suit



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    Mets owner Fred Wilpon predicted his family "will be vindicated" from a claim they had prior knowledge of Bernard Madoff's Ponzi scheme.

    Speaking Thursday at the Mets spring training camp, Wilpon said he was naive to invest with Madoff, a longtime friend and neighbor on Long Island.

    Irving H. Picard, the trustee trying to recover money for victims of the swindle, has sued Wilpon and various family members and entities related to Sterling Equities, seeking at least $300 million.

    Picard claimed they were net winners with their Madoff investments and ignored warnings that Madoff's high returns might be false.

    Fred Wilpon: "We Will Be Vindicated."

    [NY] Fred Wilpon: "We Will Be Vindicated."
    Speaking on-camera for the first time this spring training, Mets owner Fred Wilpon maintained he knew nothing about Bernie Madoff's ponzi scheme, insisted his family will retain control of the ballclub, and offered his thoughts on the upcoming season.
    (Published Thursday, Feb. 17, 2011)

    The Wilpons have said they are victims in the scheme.

    Madoff told The New York Times in a recent interview that the Mets owners "knew nothing" of his actions.