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FBN’s Ashley Webster breaks down the latest details surrounding the case of Irving Picard against the New York Mets.
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The fact that breaking news from the -- the Madoff case that actually Webster's outside the courthouse when the trial against the Mets and as was just about to Begin all right actually we told our view -- That they'll be no trial they've got a settlement.
That the -- bonds will pay a 162 million dollars golf that bought.
Does that a 162 million include.
The 83 million -- -- to come up with -- already.
Yes and -- 83 million studiously fictitious profits as it is cold made on the initial investment of some 303.
Million.
We understand and yet it has not been confirmed yet we are waiting for all the principal players in this to come out of the federal courthouse behind me here in lower Manhattan.
But we believe that the 83 million is included within -- 162 million dollar settlement.
Now it has to be said that the Mets will not be making any payments as yet because still -- they have.
Claims against the made off fumble the -- Ponzi scheme if you like of a hundred and 78 million dollars so ironically opened the card will we try to recoup pull pull back that 178 billion.
So theoretically if they got that money back for the Mets owners.
This 162 million what I actually even our resulted in net profit for the Mets owners of sixteen million dollars I'm reading into the between the lines in looking at all these numbers and -- me as -- total -- it looks like a win for the mess that's what it's actually.
I say you're absolutely right still I don't think that -- case for.
I think the -- the court appointed trustee was very strong at -- -- -- -- -- -- -- It would have put a serious doubt over the hundreds of other cases that I anticipated.
As he tries to claw back as much money -- he -- for the victims of Bernie Madoff I think a settlement was the best he could hopeful we got it all right Ashley Webster right that when it happened thank you very much actually good stuff.
