JNF Asset Management COO Perishes in Fatal Escalator Accident

piershops
Image: Wikimedia Commons

James Vellanti, COO of the New York hedge fund JNF Asset Management, fell to his death early this morning in an Atlantic City accident. FINAlternatives has more:

Vellanti…was declared dead after falling from an escalator at The Pier Shops at Caesars. The shops are connected to the casino by a sky-bridge and an escalator.

He is the second man to lose his life after falling from the structure. Frank Gilbert Jr. fell after sitting on the escalator’s handrail on Aug. 9, 2008.

Prior to his role at JNF Asset Management, Vellanti, who lived in Clinton, New Jersey, served as managing director of trading and operations at Koch Global Capital.

According to NJ.com,

About 75 percent of injuries on escalators each year are fall-related, according to the U.S. Consumer Products Safety Commission. There were about 11,000 escalator-related injuries in 2007, the commission reports.

Police haven’t yet released details of exactly what happened. We extend our deepest sympathies to Mr. Vellanti’s family and friends.

If escalator accidents aren’t that uncommon, and Mr. Vellanti was the second person to suffer a fatal such accident at The Piers Shops, what will the company do to prevent others from falling?

  • Tiffaine

    I am Frank Gilbert’s cousin- and I really hope the casino does something about that escalator. Something as simple as putting up plexiglass along the sides could prevent another tragic accident. Maybe since it was a “big shot business man” that died from falling from that escalator this time, they’ll finally do something about it. My thoughts go out to Mr. Vellanti’s family as well as my own family. May they both rest in peace.

  • onetruedaisy

    Frank gilbert cousin: A “BIG SHOT” will still be alive today. The escalator is artwork, makes it fun if you make it like an obstacle course on carnival/festival.
    Was he alone in AC?

  • chelsea

    Tiffaine,

    My condolences for the loss of your cousin Frank. I was a friend of James’. Can you please email me offline the name of Frank Gilbert’s attorney? My email address is chelsea_1367@yahoo.com.

    Thanks.