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Lehman Ex-Managing Director Bradley Jack Arrested on Drug Forgery Charge
Bradley H. Jack, a former Lehman Brothers Holdings Inc. (LEHMQ) managing director, was arrested in Connecticut by police who charged him with attempting to pass a fake prescription for Oxycontin and Ritalin.
Jack, 52, is accused of using a forged prescription at a Fairfield CVS pharmacy June 24 for 12 pills of the painkiller Oxycontin and nine pills of Ritalin, a drug used to treat attention deficit disorder, said Lt. James Perez of the Fairfield Police Department.
A store employee followed the suspect outside the pharmacy, watched him get into a black Range Rover and drive away, Perez said yesterday in a telephone interview. The employee reported the license plate number of the vehicle to police, who traced it to two residences -- one on Sasco Hill Road in Fairfield and the other on North Avenue in Westport, according to Perez.
Jack joined New York-based Lehman in 1984 and ran investment banking from 1996 to 2002, when he became co-chief operating officer with Joseph Gregory. In 2004, he was named to the office of the chairman with the responsibility of overseeing all of the firm’s investment banking relationships.
He decided to retire from New York-based Lehman to pursue work in the nonprofit sector and spend time with his family, said Richard Fuld, Lehman’s former chief executive officer, in June 2005.
Sasco Hill Road is the same street listed for Jack in a June 2007 lawsuit filed against former officers of the bankrupt securities firm by two chapters of the International Union of Operating Engineers-Employers Construction Industry Retirement Trust. Jack declined to be interviewed yesterday at his home.
Connecticut state court records show that a Karin Jack, who had an address on Sasco Hill Road, divorced Bradley H. Jack, who had a different street address listed in the court papers. A Vanity Fair article published in March 2010 identified Karin Jack as the ex-wife of the former Lehman executive.
Bradley Jack, when approached at his Westport property, said he hasn’t “been in business in five years” and that stories about his arrest have “some misunderstanding.”
“I can’t comment on anything about that,” Jack said when asked about the arrest. “It’s my personal life.”
Jack referred questions to a Norwalk, Connecticut attorney, William A. Pelletreau, who didn’t return messages left at his office after business hours. Robert Satti, a state’s attorney in Bridgeport, declined to comment on the case.
Jack was charged with second-degree forgery, a felony count that carries a sentence of at least one year in prison, and forgery of a prescription ledger, Perez said. He was released on a promise to appear in state court in Bridgeport on July 11.
Perez said he couldn’t confirm that Jack used to work at Lehman, which in 2008 filed the biggest bankruptcy in U.S. history.
Police said that at the CVS drugstore, the pharmacist “immediately became suspicious” of the customer, told the man to come back, and called the doctor’s office in Westport that was listed on the prescription, Perez said. The physician’s office confirmed the prescription wasn’t valid, and the pharmacist notified police, according to Perez.
Police contacted the suspect, who voluntarily came to police headquarters for questioning, Perez said. He matched the description given to police -- a 6-foot-tall white man in his 50s with salt-and-pepper hair, wearing a striped shirt and tan pants.
“He readily confessed and said that he was sorry and that he shouldn’t have done it,” Perez said. “I don’t know if it was for him or someone else,” he said of the drugs.
The Jacks’ home on 20 acres off Sasco Hill Road is the most expensive residential property in Fairfield, according to a report in the Connecticut Post. The waterfront property has been appraised at $34.6 million, the newspaper said.
Kimberly Macleod, a Lehman spokeswoman, didn’t return telephone and e-mail messages seeking comment.
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