TODAY'S PAPER
27° Good Morning
27° Good Morning
Business

Suit hits Mets owners over 401(k)money with Madoff

A new lawsuit blames the owners of the New York Mets for letting workers put more than $16 million in 401(k) assets into accounts controlled by jailed financier Bernard Madoff.

The lawsuit was filed in federal court in Manhattan on Friday. It was brought by the wife of a former employee of Sterling Equities Associates, which owns the Mets.

The lawsuit claims that Sterling Equities and several of its top executives should have known that Madoff was carrying out a massive Ponzi scheme that cost thousands of investors billions of dollars.

A message left with a spokesman for Sterling was not immediately returned.

The court-appointed trustee who is recovering Madoff money for investors has said the Mets profited from their investments with Madoff.

Comments

We're revamping our Comments section. Learn more and share your input.

More news