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Grasso denies NYSE jet misuse
News report says that Grasso's son was not flown alone to Zurich on NYSE plane.
March 17, 2005: 12:58 PM EST

NEW YORK (CNN/Money) - Dick Grasso, former chairman of the New York Stock Exchange, said he never misused the exchange's leased jet, according to a published report.

Grasso, currently locked in a court battle with New York Attorney General Eliot Spitzer over his $140 million pay package, said an NYSE document included in the court filing does not show he had his son flown alone to Zurich, the New York Post reported Thursday.

Grasso's spokesman also defended Grasso flying his friends and family on the NYSE jet to Florida for vacations in 2003, according to the report. The spokesman told the newspaper that the NYSE board had barred Grasso from flying on commercial flights for security reasons following the Sept. 11 attacks.

Grasso's spokesman told the Post that the document, which shows that the son was the only guest on the plane for a January 2003 trip to the Davos economic forum, doesn't accurately reflect what happened.

The spokesman told the newspaper that Grasso and the NYSE deputy head of security were also on the flight, and that the $5,000 cost of taking the son on the flight was included in Grasso's W-2.

The newspaper reported Wednesday that Spitzer's investigation into Grasso's tax returns revealed that the former chairman used the NYSE jet to fly family and friends on three flights to Miami, costing the NYSE more than $30,000. The report also said Grasso did not reimburse the NYSE for his son's flight to Zurich.  Top of page

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