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Charles Zarzecki
Princeton/Newport Partners General Partner and Chief Trader; Convicted on 63 RICO Counts, All Overturned on Appeal
General Partner and Chief Trader, Princeton/Newport Partners
Overview
Charles Zarzecki was a general partner and chief trader at Princeton/Newport Partners. In August 1989, he and five other defendants were convicted on 63 counts of racketeering, securities fraud, and tax fraud for engaging in illegal tax-motivated stock parking transactions with Drexel Burnham Lambert. Zarzecki was sentenced to 3 months in federal prison and ordered to forfeit $1.4 million. On June 29, 1991, all convictions were overturned on appeal when the court ruled the government had improperly applied RICO.
Key Affiliations
Controversies & Concerns
Convicted on 63 RICO counts for illegal tax-motivated stock parking with Drexel Burnham Lambert
Ordered to forfeit $1.4 million at sentencing
All convictions overturned on appeal June 29, 1991
Related Investigations (1)
Criminal Charges & Violations
2 documented violations
18 U.S.C. 1962 (RICO)Racketeering: Illegal tax-motivated stock parking with Drexel(Federal)
26 U.S.C. 7206Tax fraud(Federal)
Known Associates & Connections
James Sutton Regan
Managing general partner at Princeton/Newport; co-defendant
Bruce Lee Newberg
Drexel trader who served as counterparty to illegal trades; co-defendant
Sources & Documentation
1 documented sources from official records, investigations, and reports
Personal Information
- Born
- c. 1948
- Birthplace
- United States
Education
Key Timeline
1988-08-04
Indicted on RICO charges alongside five other defendants
1989-08
Convicted on 63 counts of racketeering, securities fraud, and tax fraud
1989-11-09
Sentenced to 3 months prison; ordered to forfeit $1.4 million
1991-06-29
ALL convictions overturned on appeal