Princeton/Newport Partners: Five indicted former officials of...

Princeton/Newport Partners: Five indicted former officials of the Princeton/Newport Limited Partners investment firm received encouraging news when a federal judge dismissed three mail and wire fraud counts in a criminal indictment pending against them in New York. The counts related to charges that the Princeton/Newport officials had illegally agreed to hide the ownership of blocks of Mattel stock. The judge threw out the counts, saying the government hadn’t shown that the Mattel transactions had caused anyone to lose money or property. Dismissal of the counts leaves 65 counts pending. But a defense lawyer claimed that the dismissal also wipes out a big portion of the pending racketeering charge against the group.