Saul Katz (born February 17, 1939) is a real estate developer, former president of the New York Mets and accused Bernie Madoff co-conspirator.
[9] Merrill Lynch warned Saul Katz on several occasions about Madoff's operation, as did numerous other financial professionals.
[9] Sterling Equities ignored these warnings collectively receiving $300 million dollars via the Madoff operation ultimately revealed as a fraud.
[11] The Attorney General of New York, Eric Schneiderman reached a settlement agreement regarding illegal lobbying on behalf of Sterling Equities.
[12][13] In 2015, a New York state court ruled that the because part of the plan involved private development of public parkland it was illegal.
"[18] in 2021, new owner Steve Cohen hired a law firm to look into the accusations of harassment, misconduct, and discrimination during Katz's tenure.
[22] When the 2020 MLB season was delayed and later shortened due to the COVID-19 pandemic, employees complained about not being paid and not hearing anything from the Mets owners.
By comparison, Nets owner Joseph Tsai announced he would be paying non-salaried Barclays Center employees within one day after the NBA season was canceled.
In September a deal was reached for Cohen to purchase 95% of the franchise from Katz and the Wilpons for approximately $2.4 billion and on October 30, he was approved by MLB's owners.
[26] Sterling Equities and individuals affiliated with Katz and Wilpon received $300 million in respect of investments in the Bernard Madoff Ponzi scheme.
[30] Picard sued Katz, his partner Fred Wilpon, and Sterling Equities for 1 billion in illegal profits from the scheme.