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Joseph Jett

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BUSINESS
September 21, 1994 | From Times Staff and Wire Reports
Wang Laboratories Inc. will buy much of the service and systems-integration businesses of Paris-based Groupe Bull for $160 million, the companies said. . . . Kidder, Peabody & Co. refused to advance Joseph Jett nearly $600,000 to help pay for the fired bond trader's legal fight against the brokerage firm.
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BUSINESS
March 30, 2000 | From Bloomberg News
General Electric Co. stockholders will accept $19 million to settle a class-action lawsuit that faulted Joseph Jett, a top bond trader for GE's former Kidder, Peabody & Co. unit, for inflating Kidder's net worth and deceiving shareholders about the value of GE stock, according to a settlement filed Wednesday. Government regulators have called Jett's fraud one of the largest in the history of the securities industry.
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BUSINESS
January 28, 1995 | Times Staff and Wire Reports
Kidder, Jett Targets of SEC Action: The Securities and Exchange Commission told Kidder, Peabody & Co. and Joseph Jett, its former chief government bond trader, that it expects to file civil charges against them, spokesmen for the company and Jett said. SEC staff members, in their investigation of the bond trading scandal at the now-defunct securities firm, want to charge Kidder with failing to properly supervise employees.
BUSINESS
July 22, 1998 | Bloomberg News
Joseph Jett, a former Kidder, Peabody & Co. bond trader accused of creating $350 million in phantom trading profits, was ordered by an administrative law judge to repay $8.21 million in bonuses and pay a $200,000 fine. The decision by a Securities and Exchange Commission administrative law judge, issued more than two years after a hearing in the high-profile case, found Jett liable only in connection with "books and records" violations.
BUSINESS
December 20, 1996 | Times Staff and Wire Reports
Joseph Jett, a bond trader accused of masterminding a trading scheme that led to the demise of Kidder Peabody & Co., won a legal tussle over $5.3 million in assets frozen by his former employer. An arbitration panel of the National Assn. of Securities Dealers rejected the firm's efforts to use the funds to offset damages and to recover money it said Jett improperly collected--including $8.2 million in bonuses--as a result of sham trades.
BUSINESS
May 6, 1994 | From Associated Press
Joseph Jett, a bond trader fired from Kidder, Peabody & Co. for allegedly reporting bogus profits, sought in state court Thursday to force Kidder to release almost $5 million of his money. Jett's lawyer said Justice Martin Stecher signed an order directing the securities firm to explain in Manhattan's State Supreme Court next Tuesday why Kidder should not have to give Jett the money. Kenneth E. Warner, Jett's attorney, said the firm froze Jett's cash management account of $4.
BUSINESS
December 20, 1996 | Times Staff and Wire Reports
Joseph Jett, a bond trader accused of masterminding a trading scheme that led to the demise of Kidder Peabody & Co., won a legal tussle over $5.3 million in assets frozen by his former employer. An arbitration panel of the National Assn. of Securities Dealers rejected the firm's efforts to use the funds to offset damages and to recover money it said Jett improperly collected--including $8.2 million in bonuses--as a result of sham trades.
BUSINESS
June 21, 1996 | Times Staff and Wire Reports
Prosecutor Seeks Huge Fines Against Jett: The fines sought against Joseph Jett, the former Kidder Peabody & Co. bond trader accused of a massive scheme to falsify profits, could total hundreds of millions of dollars.
BUSINESS
January 10, 1996 | From Times Wire Services
The Securities and Exchange Commission said Tuesday that it will seek millions of dollars in fines against Joseph Jett and attempt to bar him for life from the securities industry, charging that the former Kidder, Peabody & Co. bond trader engaged in fraud.
BUSINESS
January 9, 1996 | From Associated Press
Federal regulators are ready to file civil charges against former Kidder Peabody bond trader Joseph Jett and two of his former bosses in connection with the firm's 1994 bond trading scandal, sources said Monday. The Securities and Exchange Commission could file an administrative case today against Jett, Edward Cerullo and Melvin Mullin, according to the sources, who requested anonymity. The Northeast storm delayed the filing Monday.
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