The Trail of the Dead Bankers
Update: 2 years down, a revisit
The non stop flurry of bankers dying left and right and sleeping with the fishes has no doubt raised a few eyebrows as well as many many questions.
Speculation tend to go into 1) impending financial meltdown that leads to suicides and 2) looming investigations and bankers turned whistleblowers being taken out to delay proceedings
As time passes by, a tiny flicker of light is shed onto some of these deaths. (But the truth is by no means revealed, which perhaps only time will tell)
Suicide: Zurich Pierre Walthier, raised doubts over Zurich insurance financial health, investigations
Perhaps a genuine suicide?
Switzerland’s biggest insurer said in November that no “undue pressure” was put on Wauthier, who said in a suicide note that then-Chairman Josef Ackermann had created an unbearable working environment. The Aug. 26 suicide, which prompted Ackermann to resign, raised doubts about Zurich Insurance’s financial health, prompting it to review its earnings statements and commission an investigation into the relations between executives and the supervisory board.
Deutsche Bank William Broeksmit
Arguably the first high profile death that led to others being unearthed
“anxious about various authorities investigating areas of the bank where he worked,” according to written evidence from his psychologist,
One of those notes was to Anshu Jain, Deutsche Bank’s co-chief executive, according to a person familiar with the note. The decadeslong investment-banking careers of Messrs. Broeksmit and Jain were closely entwined, dating back to their work together in the 1990s building Merrill Lynch & Co.’s derivatives business.
The mounting pressures on Mr. Broeksmit in recent years coincided with a broadening array of investigations targeting Deutsche Bank itself, including its role financing controversial bank deals and alleged manipulation of financial benchmarks. The bank has agreed to billions of dollars in settlements.
His most recent title was the investment bank’s head of capital and risk-optimization. Among other things, he was responsible for evaluating risks related to complicated transactions.
One series of deals involved Deutsche Bank selling derivatives known as “enhanced repos” to other banks.
Mr. Broeksmit’s name also surfaced in connection with government investigations into the rigging of the benchmark London interbank offered rate, or Libor, according to people familiar with the matter.
A former Deutsche Bank official suggested to U.S. Commodity Futures Trading Commission investigators that they speak to Mr. Broeksmit as part of their Libor case, in part because of transactions he was responsible for reviewing, according to a person familiar with the matter.
The infamous nailgun: Richard talley
However, who can fire 7 nails into their own chest and then after one in the head?
The Denver Post reports, state prosecutors launched a criminal investigation and a grand jury over more than $2 million missing from escrow accounts. As part of that inquiry, investigators have seized about 100 boxes of documents and about 60 computers as records suggest the seemingly successful title business had serious financial problems. Talley’s wife, Cheryl, who owns the other 60% of the firm has not commented.
The Arapahoe County coroner’s office said Talley shot himself in the chest seven times with 2½ -inch finish nails from a nail gun before firing a fatal nail into his head. Police found him dressed for work, sitting in his car in the garage and with the motor running.
Records show Title Resources was to confront Talley about the missing escrow funds the morning he died.