Posted March 6, 2012 by DJ Enuff in Sports

Dykstra to serve time, Mets lose ‘Madoff scandal’ court battle

@SportsBata ..nuff said

Yesterday, Former Met Lenny Dykstra was sentenced to three years in prison, and Mets’ owners lost a court battle and will have to pay up to $83 Million in ‘Madoff Ponzi scandal’ phony profits.

“His conduct was indeed criminal.”…“He [Dykstra] obviously didn’t have the money to get the vehicles,” Ulfig said. nypost

#86Mets #AwesometoPossum Lenny Dykstra was sent to the slammer for three years on charges: grand-theft auto and filing a false financial statement, yestereday. Dykstra was a big part of the 1986 NY Mets Championship team (pic above), and was a great hitter later hobbled with injuries.

Dykstra fell upon hard times recently; filing for bankruptcy three years ago on $18.5 Million (Gretzky) mansion he owned. He owed $31 Million and only had 50K in assets at the time. He also tried to pawn off $400K in assets before the govt. seized the property.

In this case, Dykstra and two co-defendants tried to lease and then sell high-end cars from several car dealerships by claiming credit through a phony business. Even though Dykstra attempted to withdraw the ‘no contest’ plea at the last minute, Judge Cynthia Ulfig wasn’t biting and charged him, due to the sophistication and planning of the operation.

Met owners (L to R): Jeff Wilpon, Saul Katz, and Fred Wilpon

Bernard Madoff Investors will get back $83.3 Million from the Mets owners, Saul Katz and Fred Wilpon, upon the courts decision, yesterday. It is unlikely that the 0ther $300 Million, even though the case wasn’t allowed dismissal by the owners, will be ordered to be paid back. The trustee must prove, in the $300 Million case (on Mar. 19), that the owners ”willfully blinded” themselves to Madoff’s fraud to get more money. Essentially, the Mets owners got screwed by their own kind. Check out an older excerpt below to get a better understanding of the situation…

Irving Picard, trustee for the victims of Bernie Madoff.

Picard is seeking as much as $1 billion from Fred Wilpon and Katz in principal and “fictitious profits” that the the lawsuit attests investors gained from Madoff. The two businessmen have steadfastly maintained that they were victims of Madoff, like thousands of others, and did not know of the Ponzi scheme. – foxsports