Sandler: Princeton Newport collapsed before trial under RICO before winning on appeal
Richard Sandler · Richard Sandler – The Prosecution of Michael Milken (EP.372) · Mar 4, 2024 · at 38:04
Richard Sandler explains how the Southern District of New York's use of RICO asset freezes destroyed quantitative trading firm Princeton Newport Partners prior to trial.
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“The firm was out of business before the first witness was called in the trial, because under RICO, you could create a freezing of assets, and as a financial institution, that's very, very difficult. So, even though Princeton Newport case was reversed on appeal, and then the government never retried it, the fact that Princeton Newport was out of business before the trial started really got the attention of Drexel.”
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