Four of the biggest banks on Wall Street combined hold over $680 billion in BOLI policies, the bloggers reported, but JPMorgan held around $17.9 billion in BOLI assets at the end of last year to Citigroup’s comparably meager $8.8 billion.
Both banks are global financial institutions with commercial and investment banking operations, the Martens wrote, and each employs close to a quarter-of-a-million employees. Nevertheless, they say that JPMorgan has experienced a far greater rate of suicide among employees in recent months, particularly in the midst of a series of news reports documenting unusual leaps off buildings and other bizarre deaths that have taken the lives of JPMorgan staffers.
“Wall Street on Parade carefully researched public death announcements over the past 12 months which named the decedent as a current or former employee of Citigroup or its commercial banking unit, Citibank,” the Martens wrote on Tuesday. “We found no data suggesting Citigroup was experiencing the same rash of deaths of young men in their 30s as JPMorgan Chase. Nor did we discover any press reports of leaps from buildings among Citigroup’s workers.”
Shocked by the comparably greater amount of BOLI assets held by JPMorgan as opposed to Citibank, the Martens wrote that they filed a Freedom of Information Act request to see if more could be revealed about the life insurance policies being bought in the billions. This week, the bloggers said they struck an unusual roadblock.