Settlement Is Latest Blow For Cash-Strapped Mets

by Janet Babin, WNYC Radio

The owners of the New York Mets will pay $162 million to settle charges related to the Bernard Madoff Ponzi scheme. The trustee representing Madoff's fraud victims claimed that team owners reaped profits even though they knew the Madoff investment was corrupt. The Mets won't have to pay anything for at least three years, but the case has already forced the team to slash payroll.

Broadcast Dates

• Morning Edition, March 20, 2012