Wednesday, 23 July 2014
Last updated 13 hours ago
Aug 6 2012 | 11:23am ET
The son of Welch Capital Partners founder Leighton Welch has been charged with drunk-driving in a four-wheeler accident that killed his prep. school roommate.
James Welch is accused of negligent vehicular homicide under the influence of alcohol. The accident occurred on Thursday night at Montana's Yellowstone Club resort, where Welch was vacationing with his family and Parker Regan.
Welch was arrested at about 11:50 p.m. on Aug. 2, telling the Montana Highway Patrol that Regan, the son of Chartis Group co-founder R. Christopher Regan and the grandson of former March & McLennan CEO John Regan, fell out of the all-terrain vehicle he was driving while he was making a left. But police say that Welch smelled of alcohol and had watery and bloodshot eyes—and bloody clothes. Welch refused to submit to either a breath or blood test, although police later got the latter after obtaining a warrant.
It's the second time this year Welch has faced charges of drunk driving; he was convicted of the crime on April 17, according to an affidavit, although it is unclear where that crime occurred.
Welch and Regan were roommates at Connecticut's Suffield Academy.
Welch was freed on $50,000 bail on Friday evening.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…