Dwarf Tossing?

By | December 7, 2006

Dwarf TossingWho would guess that Dwarf Tossing has a wiki entry? I guess if all parties involved are into it, fine. Why not?

Wall 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

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