Banker's deaths

[R.K. Locke]

This may or may not be connected, but the timing is interesting if nothing else:



9 die in fire destroying Argentine bank archives

By Associated Press, Published: February 5


BUENOS AIRES, Argentina Nine first-responders were killed and seven others injured as they battled a fire of unknown origin that destroyed an archive of corporate and banking industry documents in Argentina's capital on Wednesday.

The fire at the Iron Mountain warehouse took hours to control and at least half of the sprawling building was ruined despite the efforts of at least 10 squads of firefighters.

The nine firefighters and civil defense workers were crushed when a brick wall collapsed on top of a large group of first-responders on the sidewalk and street outside. Tearful rescuers removed rubble by hand to reach their comrades.

"It took them completely by surprise," said Argentina's Security Secretary Sergio Berni said. "Some of the injured are fighting for their lives."

Berni said Iron Mountain also had employees inside the building when the fire started early Wednesday, but all the employees and firefighters were accounted for by early afternoon.

The destroyed archives included documents stored for Argentine corporations and banks, said Buenos Aires security minister Guillermo Montenegro.

The cause wasn't immediately clear. Berni said the company's on-site firefighters shared some details with authorities, and Iron Mountain said it too will investigate.

"All of this will end up in court," Berni said, declining to make any details public.

If the cause is found to be arson, it wouldn't be the first time for Boston-based Iron Mountain Inc., which manages, stores and protects information for more than 156,000 companies and organizations in 36 countries. Fire investigators blamed arson for blazes that destroyed its warehouses in New Jersey in 1997 and London in 2006, prompting rounds of legal claims over lost records.

Iron Mountain issued a statement saying "we are deeply saddened by the deaths of the brave first responders who rushed to save our facility. Our thoughts are also with those who have been hospitalized, and we wish them a quick and complete recovery."

"We will investigate the cause of the fire and work closely with local investigators, police and fire authorities to understand what happened. The building was equipped with both fire-detection as well as a sprinkler system," the company said, adding that it is contacting its customers whose documents were lost.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

http://www.telesurtv.net/english/news/Ar...-0035.html



Argentina: HSBC Embroiled in Deliberate Fire Coverup

Firefighters work to put out a blaze at an Iron Mountain warehouse in the Barracas neighborhood of Buenos Aires, Argentina. | Photo: EFE


Published 10 March 2015


Argentine authorities are investigating a possibly deliberate fire in which documents from major financial institutions were lost documents that contain information about economic fraud committed in the country.


After a police analysis determined that the fire that burnt down two warehouses belonging to the Iron Mountain company in Buenos Aires in February 2014 was intentional, several questions about the links between the company and its clients and also with the Buenos Aires City government have raised.

The Financial Information Unit of Argentina is investigating a conspiracy between Iron Mountain and its major clients - international financial companies such as banks HSBC, BNP Paribas and JP Morgan - to destroy documentation involving economic crimes, by causing a fire in the company's warehouses.

According to José Sbatella, the head of the Unit, "They have come to justify the lack of documentation by saying they lost it in the fire. However, this does not explain why these companies have not filed any lawsuits against Iron Mountain for this."

He added that only two of the 29 companies that lost documentats made complaints against Iron Mountain.

"It seems to me that the other 29 had no trouble with it," he said, ironically.

Suspicions also involve the Buenos Aires city administration.

Since 2008 the local administration started to promote the setting up of technological industries in the southern areas of the city giving them tax reduction benefits.

Iron Mountain's location was not in this area, but the head of Economic Development of the City, former HSBC executive Francisco Cabrera, intervened in order to give the company these tax benefits. It turns out HSBC was the most affected company in the fire, and it is one of Iron Mountain's biggest client globally.

The negligence of the company in fire prevention also involves local government.

An inspector of the Secretariat of Labor of the local government wanted to close down Iron Mountain's facilities for lack of security measures, but superior officers put a stop to this closure because of the good relationship between Iron Mountain and the local administration.

Furthermore, the company received awards from the right wing mayor Mauricio Macri even after this closure attempt.

Regarding this, Sbatella stated, "The city did not exercise its police power, thus it is also associated with the accident, not directly but indirectly."

"We believe that these unfortunate ten deaths encourage the search for direct and indirect responsibilities," he concluded.