Advertisement
YOU ARE HERE: LAT HomeCollections

BRIEFLY

Securities

February 29, 1996|Times Staff and Wire Reports

Jett's Former Boss Suspended: Edward Cerullo, the former supervisor of Kidder Peabody & Co. bond trader Joseph Jett, received a one-year suspension from the New York Stock Exchange for his role in the bond scandal. The yearlong ban prevents Cerullo, 46, from acting as a supervisor for an NYSE member firm. It's similar to the one-year supervisory ban Cerullo received in a settlement with the Securities and Exchange Commission last month. The charges in the NYSE case arise from Jett's dismissal in April 1994, when Kidder accused him of a scheme to concoct $350 million in phony bond profits to inflate his bonus and another to mask $100 million in losses. Cerullo, who neither admitted nor denied the New York Stock Exchange charges, was accused of failing to supervise Jett, who denies any wrongdoing.

Advertisement
Los Angeles Times Articles
|
|
|