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Strategies & Market Trends : Take the Money and Run

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To: Original Mad Dog who started this subject8/15/2002 11:21:29 AM
From: Petrol   of 17639
 
Suit targets suits

One Wall Street watchdog may need someone to examine its own business practices.

Whistleblower Patrick S. Allocco, a former ad salesman for Barron's magazine, a Dow Jones publication, has filed suit against the company, claiming that Dow Jones management encouraged employees to regularly charge their own meals, theater tickets and strip-club excursions as corporate client expenses. Allocco also claims he was fired after he reported the alleged practices to an internal auditor.

"The use of expense accounts was open and notorious," Allocco claimed in papers filed in U.S. District Court.

"On occasions too numerous to mention, plaintiff was instructed to use his corporate American Express card and/or to take cash advances to pay for strippers and lap dances for the employees of the marketing department ... at Scores, Stringfellows, Billy's Topless or Camelot in Washington, D.C."

Allocco wants $5 million for wrongful termination.

nydailynews.com
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