Thursday, December 7, 2006

Dwarf Tossing?

Who would guess that Dwarf Tossing has a wiki entry? I guess if all parties involved are into it, fine. Why not?
dwarf-tossing.jpgWall Street watchdogs nailed Jefferies Group with nearly $10 million in fines, claiming that the brokerage firm let an executive use company cash to ply Fidelity Investments' traders with lavish gifts - including underwriting a booze-fueled bachelor party replete with strippers and dwarves - to win business. ... former star equity salesman Kevin Quinn ran wild with a nearly $1.5 million expense account.

Quinn booked a private jet and hired limos for the party in Miami; festivities included dwarf-tossing and ogling strippers.

Danny Black, The Lansing, Mich.-based dwarf at the center of the party, confirmed to The Post that dwarf tossing was part of the activities.

"What's a party without drunken dwarf tossing?" asked Black. He confirmed that "scantily clad" strippers were around the party, but declined further comment on the activities. ...

Before the NASD caught Jefferies during a routine audit in late 2004, Quinn's obsessive entertaining and gift-giving catapulted Jefferies from $1.7 million in commissions with Fidelity in the first six months of 2002 to $24.5 million in business by September 2004. The NASD fined the firm $5.5 million, and the SEC forced it to disgorge $4.2 million in ill-gotten gains plus interest. Quinn was barred from working as an NASD member firm for life and paid a $468,000 disgorgement.

His boss, equity division chief and executive committee member Scott Jones, paid a $50,000 fine and was barred from supervisory duties for three months. He is still employed at the firm, according to a firm spokesman. A Jefferies spokesman said: "We are pleased to have this matter behind us and will continue to focus on serving our clients." - nypost

1 comment:

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