Richard Breunich, JP Morgan Executive, Has Carte Blanche At NYPD Headquarters

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A top executive at the investment bank JP Morgan Chase has special access to police headquarters, the Voice has learned. The mystery is why.

Most of us regular folks have to go through a ridiculous security screening process just to get into 1 Police Plaza (a public building, by the way), including showing ID and being vetted first at the blockhouse outside, and then again inside, submitting to two metal detector sweeps, and justifying one's presence.

But sources tell the Voice that Richard Breunich, a managing director with the bank who splits his time between the city and Punta Gorda, Fla., has "special entry status" at police headquarters. His picture was posted recently with that label in the headquarters security office.

This means that Breunich is allowed to avoid those long security queues.

It's doubtful that Police Commissioner Ray Kelly would dole out this privilege to a once-a-year visitor, so likely, Breunich is a regular at headquarters.

Is he performing some kind of service for Kelly and the NYPD? Is he advising Kelly? Is he a police buff who likes hanging around cops? Are he and Kelly friends?

We twice asked Kelly's spokesman Paul Browne this question, and received no response. We also asked two JP Morgan spokespeople, and got silence.

Kelly's ties to corporate bosses have been the subject of some controversy in recent years. Most recently, JP Morgan gave $4.6 million to the New York City Police Foundation, which funds Kelly's pet projects, including the network of overseas detectives sent to monitor terror plots.

That gift was reportedly for technology upgrades for the NYPD. At the time, the foundation head called JP Morgan "an incredible partner with the foundation for providing technology that the police budget can't afford." Civil liberties advocates said private money funneled through a private foundation shouldn't be used for controversial police operations. Occupy Wall Streeters said the gift was quid pro quo for the NYPD crackdown which cost the city $2 million in overtime.

Is there any connection between the $4.6 million gift and Breunich's special access?

Kelly also came under criticism for hosting lunches and drinks for bigwigs at the swanky Harvard Club on the foundation's dime. The foundation also paid his membership dues.

Kelly worked at JP Morgan during the 1990s, though Breunich was not employed there at the time.

Breunich previously worked at Citigroup, Smith Barney and Merrill Lynch, and appears to specialize in high tech projects. At Citigroup, he was head of a division that developed computer security programs.

Since no one at headquarters or JP Morgan are talking, let's throw the question open to the floor, and hear some theories.

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4 comments
gregorylent
gregorylent

normal for a corporatocracy, that business, government, and security forces are not separate 

Raykellysmom
Raykellysmom

Village Voice should be looking into the Kelly family nexus of power extending from when Ray Kelly was head of corporate security at Bear Stearns in 2000-2002 before his second stint as NYPD Commissioner. Timeline coincides with R Kelly presiding over the avalanche of deregulated garbage securities Bear Stearns threw around the world in the subsequent years. In 2003, Ray's elder son, James, became Managing Director of Principal at Bear, and kept his executive level job when Bear disintegrated and was bought by JPMorgan.

Older son: Jim (James) F. Kelly - http://www.linkedin.com/in/jam... Director at J.P. Morgan ChaseFORMERLY:Managing Director Principal at Bear, Stearns & Co. Inc.Assistant Director, Technology & Administration at New York State Office of Homeland SecurityChief Technology Officer at OnPlan Inc   Director, Senior Vice President, Corporate Secretary at Proginet                  

Perley J. Thibodeau
Perley J. Thibodeau

 

The French Monarchs told their hired tax collectors how muchmoney they needed to collect in order to maintain their lavish lifestyles andthe ruthless taxmen forced the starving people to come up with that everincreasing amount.

Neither the royal rulers nor the taxmen cared how thepeasants came up with the money just as long as they did.

This story of an administrator jumping from and wearing thevarious hats of many listed banks sounds very much like what brought thearistocrats down in the French Revolution.

It won't be long now when we'll all be sleeping on WallStreet.

But, do bring your pillows and blankets with you, thepavement is uncomfortably hard!

Perleyjthibodeau
Perleyjthibodeau

Bloomberg owns Citi Bank now, and they are milking the tenants of public housing (including myself)  for all the usurious phony late and supposed wrongly deposited  rent payment  fees they can get away with.And they can get away with it all.I got away from them years ago and went to another bank, but now I've been sold right back to it by Bloomberg, the Mayor of New York.This never happened before in the 26 years years I've lived in housing until Citi Bank was suddenly handed the New York City Housing Authority account by Bloomberg who bought that bank out.

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