Irving Picard. Sterling Equities
It has been an extremely difficult year for Fred Wilpon and his partners in Sterling Equities, owners of the New York Mets.
A year ago next week, a lawsuit by Irving Picard, trustee for the Bernie Madoff victims, against the Sterling partners was unsealed, revealing both the depth of the financial connections between the operations of Sterling's companies (particularly the Mets) and the massive investment they made with Bernie Madoff. Also revealed that day: the evidence underlying Picard's pursuit of both $300 million in "fictitious profits" and $700 million in principal invested by the Wilpon group.(1)