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Ex-CEOs Settle

February 16, 2001|Reuters

Former chief executives of two now-defunct broker-dealers have settled civil charges that they failed to properly supervise workers allegedly involved in a $6.9-million kickback scheme in the 1990s, U.S. regulators said. Without admitting or denying the allegations, George Lintz, former head of Sherman Oaks-based Lintz Glover White & Co., and Howard Brenner, formerly of New York-based Brenner Securities Corp., agreed to the consent order, the Securities and Exchange Commission said. The SEC alleged that Lintz was supervising Robert Spruill, a broker who the agency said aided and abetted a kickback scheme by Alan Brian Bond, a former investment advisor. Attorneys for Lintz and Brenner were not immediately available to comment. Lintz was fined $30,000 and barred from acting in a supervisory role with any broker or dealer, and Brenner was fined $15,000 and suspended for six months.

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