Wife Accuses Wealthy Banker Ex of Embarrassing Drug-Related Behavior in Lawsuit

By McCarton Ackerman 10/29/14

The sordid allegations against investment banker Sage Kelly are hardly uncommon in the world of Wall Street.

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The wife of a multi-millionaire investment banker is out for money and humiliation in their divorce proceedings, claiming her husband had a major drug and alcohol problem that led to some rather embarrassing end results.

Christina Di Mauro Kelly is the ex-wife of Sage Kelly, the global head of health care investment banking at Jeffries. She alleged that Sage would go on frequent drug and alcohol binges, after which he “urinated and defecated in the bed and on the floor at the couple's homes on Park Ave. and in Sag Harbor, L.I.,” according to legal documents. Their oldest daughter reportedly carried her drunken father to bed on more than one occasion and even once had to clean up his excrement.

The vengeful estranged wife also claimed that Sage abused a wide range of drugs including ecstasy, heroin, ketamine, and Molly. Cocaine was allegedly his drug of choice and he allegedly refused to have sex with her unless they were on it.

She also identified 20 of her husband’s banker friends that he reportedly did cocaine with, and gave detailed reference to a drug-fueled business party at the Ritz Carlton in which he “wife-swapped” with another client. Sage denied the accusations of drug use in a deposition and also humorously declared that he “never defecated or urinated in bed, on the floor or a wall.”

If The Wolf of Wall Street was any indication, however, cocaine and prescription drug abuse is hardly uncommon amongst high-powered bankers and others in the finance world. Research from the University of Pennsylvania released in June 2013 indicated that part of this is due to the high pressure of managing billions of dollars for their clients, with 60% of bankers reporting “serious stress” on a daily basis.

Faced with the real need to get sober while also maintaining their professional reputation to clients, many of these elite businessmen have been hiring secret sober companions to work for them around the clock, accompanying them to dinners and business meetings and even functioning as personal assistants in some cases. Dunes Rehab Center in the Hamptons went so far as to establish an Executive Treatment Program at the cost of $50,000-80,000 per month, which allows clients to leave the site with their undercover assistants in order to continue their day job.

“These guys can’t possibly conceive of burying themselves away somewhere for 30, 60, 90 days,” said Dunes founder Joe McKinsey. “They have empires to run.”

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McCarton Ackerman is a freelance writer and editor living in Portland, Oregon. He has been a contributor for The Fix since October 2011, writing on a wide range of topics ranging from medical marijuana in Colorado to the world's sexiest drug smugglers. Follow him on Linkedin and Twitter.