The owners of the Mets reached a settlement with the trustee for Bernie Madoff fraud victims, agreeing to return $162 million.
The lawsuit was scheduled to go to trial Monday with jury selection at 9 a.m. However, the settlement was announced instead.
Irving Picard, the trustee appointed to oversee the dissolution of Madoff’s estate, filed a lawsuit in 2010 against Mets bosses Fred Wilpon, Saul Katz and associates seeking up to $1 billion, but that was later amended to $386 million. Picard accused the Mets owners of ignoring obvious signs that Madoff was running a Ponzi scheme.
