January 9, 1992 |
Securities Charges to Be Dropped: Federal prosecutors said they will drop remaining charges against four principals of a New Jersey investment firm whose racketeering convictions were overturned. A federal appeals court threw out the racketeering convictions of the Princeton/Newport Partners principals and ordered a retrial on tax charges. Prosecutors said they were dropping a separate but related indictment against Bruce Newberg, a former Drexel Burnham Lambert Inc.
September 9, 1992 |
Princeton/Newport Sentences Canceled: A federal judge vacated the sentences, including fines and three-month prison terms, of Bruce M. Newberg and Charles M. Zarzecki, the last remaining defendants in the Princeton/Newport Partners securities fraud and racketeering case. Six defendants had been convicted in 1989 in a case based on alleged illegal securities trading to evade taxes. But an appeals court last year overturned the convictions of four of the defendants.
December 9, 1988 |
Princeton/Newport Partners, the small securities firm whose senior officials face racketeering charges in an investigation linked to the federal inquiry into Drexel Burnham Lambert Inc., said it will go out of business. Paul R. Grand, a lawyer representing one of the indicted officials, said the firm was "winding up its operations" because of the impact the indictment has had on its business. Five partners of Princeton/Newport were indicted Aug. 4 in an investigation launched by Rudolph W.
August 12, 1988 |
Five officials of Princeton/Newport Partners and a former bond trader with Drexel Burnham Lambert pleaded not guilty Thursday in Manhattan to federal racketeering charges. Lawyers for the officials of Princeton/Newport, an investment partnership, used the occasion of the officials' arraignment to issue a harsh denunciation of federal prosecutors. Since the five were indicted Aug.