Ex-Kidder Trader Files Libel Lawsuit

Sat., April 29, 1995

From Staff And Wire Reports

Joseph Jett, the former Kidder Peabody bond trader who was fired a year ago for allegedly creating $350 million in bogus profits, filed a $50 million libel suit Friday against the firm and its former owner.

Jett, 37, accused Kidder and General Electric Co. of a “continuing campaign and conspiracy” of libel and slander against him.

The lawsuit apparently was sparked in part by comments in an investigative report on Jett that was prepared after he was fired in April 1994. The report was released in August.

The report concluded that Jett acted alone to create $350 million in phantom trades and profits.

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Ex-Kidder Trader Files Libel Lawsuit

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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