Sometimes it hurts to be too smart:
http://www.nypost.com/p/news/local/manhattan/deal_out_mets_face_suit_yR7iLlyw9hpqdT8v1O4gfL
"Picard's lawsuit accuses the Mets owners of profiting from Madoff's scheme by pulling out $300 million in profits before the $65 billion scam collapsed in December 2008.
The suit, accord ing to sources, also claims that the own ers either knew or should have known that Madoff was a fraud -- but turned a blind eye as they earned massive profits.
Because of those claims -- and because of evidence that the Mets' owners were financially savvy enough to have pulled money out from another Ponzi scheme after getting wise to it -- Picard may be seeking punitive damages that could expose the owners to total damages of up to $1 billion.
That amount likely exceeds the Mets' total value, pegged by Forbes at $858 million last year."
http://www.nypost.com/p/news/local/manhattan/deal_out_mets_face_suit_yR7iLlyw9hpqdT8v1O4gfL
"Picard's lawsuit accuses the Mets owners of profiting from Madoff's scheme by pulling out $300 million in profits before the $65 billion scam collapsed in December 2008.
The suit, accord ing to sources, also claims that the own ers either knew or should have known that Madoff was a fraud -- but turned a blind eye as they earned massive profits.
Because of those claims -- and because of evidence that the Mets' owners were financially savvy enough to have pulled money out from another Ponzi scheme after getting wise to it -- Picard may be seeking punitive damages that could expose the owners to total damages of up to $1 billion.
That amount likely exceeds the Mets' total value, pegged by Forbes at $858 million last year."
