The bung and the short of it

What was a dwarf doing at an event organised by SmallRedWhiteandBlue?

"So where exactly do you think the dwarf fitted in?" I asked the chairman of the insignificantly-sized investment company SmallBluePlanet as we shared a pint or two of Santorini Tumble in The Shaven Jonas. "I'm sorry," he replied. "Did I miss something? What exactly are you talking about?" "That thing I saw in the paper about your US operation," I said. "SmallRedWhiteandBlue?" replied the chairman. "Oh dear. What have they been up to this time?" "I'm surprised you don't know," I said. "But I read the US authorities have taken a bit of an interest in some rather lavish corporate entertainme...