Word: jb
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Dates: during 1990-1999
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...WHAT?: Padte: "We are named after one of the best sax players of all time--Maceo Parker. He began his career as the saxophonist within James Brown's horn section (the JB's). In his solo career, he always claims his music is 2% jazz, and 98% funky stuff...
...JB OXFORD RESPONDS...
Your report on [discount brokerage company] JB Oxford is replete with erroneous inferences and inaccuracies [BUSINESS, Dec. 9]. Extensive information provided to your reporter by the company was simply omitted from the story. You referred to [JB Oxford consultant] Irving Kott as "the power behind" the firm who wants "to stay out of sight." The fact is that not the board, management or Kott would describe himself as "the power behind" our company...
...incidents. We now see in the story vague references to complaints from three customers about "price-manipulation schemes," but since we were not given details, it was virtually impossible to respond. Suffice it to say, we have not received complaints or inquiries that purport to suggest price manipulation at JB Oxford. Your reporter's allegation is false. Our company executes or clears approximately 3 million trades per year, as you noted, and our sales and trading practices are in line with industry standards...
Long before arriving at JB Oxford, Kott ran other brokerage firms by operating through front men. Authorities weren't fooled. In his native Quebec, for instance, regulators yanked the license of one brokerage, L.J. Forget, citing Kott as the secret mastermind. Dutch authorities came to the same conclusion about First Commerce. Kott-related bucket shops have also been shut down in Britain and Luxembourg. In the U.S., by contrast, by calling himself a consultant, Kott has an ongoing license to work his stock-market alchemy...