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Jules Kroll
Jules Kroll
Jules Kroll
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Jules B. Kroll (born May 18, 1941) is an American businessman who is executive chair and co-founder of K2 Integrity.

Key Information

In 1972, he established Kroll, Inc. In 2004, Kroll was sold to Marsh & McLennan Companies for $1.9 billion. In 2009, Kroll founded two successor firms, Kroll Bond Rating Agency (KBRA) and K2 Intelligence.[1]

Early life and education

[edit]

Jules Kroll was born to a Jewish family[2] on May 18, 1941,[3] in Bayside, Queens, the son of Florence Yondorf and Herman Kroll.[4] Kroll attended Cornell University, where he was a member of Quill and Dagger, and Georgetown University Law Center.[5]

Career

[edit]

Business

[edit]

In 1968, he worked for Robert F. Kennedy's presidential campaign in Queens before becoming an Assistant District Attorney in Manhattan. When his father fell ill, Kroll took a leave of absence to run the family business.

In 1972 he launched J. Kroll Associates, which eventually turned into Kroll, Inc. The business found corruption in companies which used printers with Kroll keeping a percentage of the savings. A deal with Marvel Comics proved so profitable to both sides that Marvel switched to paying a retainer.[6]

Expansion

[edit]

The Foreign Corrupt Practices Act of 1977 generated new lines of business in auditing and compliance, so Kroll opened offices in Paris, Moscow, São Paulo, Tokyo, Singapore, and Manila. The firm also provided political risk and executive protection services abroad. Kroll forayed into banking and warehousing and built a reputation for pursuing financial crime across international borders by tracing and recovering assets. Clients included law firms like Skadden, Arps and investment banks like Drexel Burnham Lambert (which hired Kroll in 1982 to perform due diligence on persons and companies that it was underwriting). It first helped Nokia and Motorola find $2.7 billion that had been invested with Turkey's Cem Uzan. It was also hired to recover wealth that had been plundered by dictators, including the Philippines' Ferdinand Marcos and Haiti's Jean-Claude Duvalier. In 1991 the government of Kuwait hired it to trace Saddam Hussein's corporate holdings around the world, including Hachette in France.

K2 Intelligence and Kroll Bond Rating Agency

[edit]

In June 2008, Kroll left his company and unsuccessfully tried to buy it back from MMC. In 2010 he launched Kroll Bond Rating Agency and K2 Global Consulting with his son Jeremy Kroll. In 2012, K2 Global became K2 Intelligence. Kroll Bond Rating Agency was started with capital from Jeff Keswin, Michael F. Price, Frederick R. Adler, William L. Mack, and James Robinson III; Bessemer Venture Partners, RRE Ventures, and New Markets Venture Partners also invested $24 million.[7][8]

K2 Intelligence has offices in New York, London, Madrid, and Bahrain. In 2010, the Conference on Jewish Material Claims Against Germany engaged K2 Global Consulting to investigate the theft of $42.5 million.[9]

Personal life

[edit]

He is married to Lynn Korda, who was vice chairwoman of the UJA-Federation of New York.[10][11] They have two sons, Jeremy and actor/comedian Nick Kroll, and two daughters, Dana Kroll and Vanessa Kroll Bennett.[12][13][14] Vanessa is married to British-American soccer journalist Roger Bennett.[13]

References

[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Jules Kroll

View on Grokipedia
from Grokipedia
Jules B. Kroll (born May 18, 1941) is an American businessman and investor recognized for founding in 1972, which pioneered the corporate investigations and risk advisory industry by providing , , and intelligence services to corporations, governments, and financial institutions. Kroll's firm gained prominence through high-stakes assignments, including investigations into for the FBI, asset recovery from the regime in the , and tracking billions in looted Kuwaiti assets following the . After selling to Companies for $1.9 billion in 2004, he established successor entities, including Kroll Bond Rating Agency in 2010 as a aimed at restoring credibility to credit ratings undermined by conflicts of interest in the pre-2008 era. Kroll also co-founded K2 Integrity, focusing on integrity risk management, cybersecurity, and anti-corruption services, while serving as its executive chair. Certain investigations by his firms, such as probes into New York City's and work for clients including prior to public scandals, have faced scrutiny for aggressive tactics or perceived conflicts, though K2 Integrity has since declined cases involving allegations.

Early life and education

Upbringing and family background

Jules B. Kroll was born on May 18, 1941, in , New York. He grew up in a Jewish household, with his father, Herman Kroll, operating a small business and his mother serving as a homemaker. The family's printing enterprise faced persistent financial difficulties, which Kroll later characterized as a "miserable little company." This environment exposed him from an early age to the precariousness of small-scale commercial operations, including issues like graft from purchasing agents that hindered profitability. Such challenges in a modest neighborhood underscored broader socioeconomic pressures on working-class entrepreneurs during the mid-20th century. Kroll's upbringing in this setting fostered an early awareness of business risks and the importance of scrutinizing operational integrity, lessons drawn directly from his father's experiences rather than formal instruction. The Jewish family heritage provided a cultural backdrop emphasizing resilience amid adversity, though specific influences on personal values remain undocumented beyond the household's daily realities.

Academic pursuits

Kroll completed his undergraduate studies at , earning a degree in government in 1963. This curriculum exposed him to foundational concepts in , , and governance structures, areas that later informed his approaches to assessing geopolitical and regulatory risks in corporate contexts. He then attended , obtaining an LL.B. degree in 1966. The rigorous legal training emphasized , evidence evaluation, and —skills directly applicable to investigative , compliance auditing, and navigating complex legal environments in . Kroll's academic focus on and cultivated a first-principles orientation toward causal mechanisms in detection and , prioritizing empirical verification over theoretical abstraction. Upon graduating, Kroll entered early professional roles in , including staff work for Senator during his 1968 presidential campaign and a position as assistant in starting in 1967. These experiences bridged academic knowledge with practical application, emphasizing hands-on skill development in prosecution and intelligence gathering.

Professional career

Founding of Kroll, Inc.

In 1972, Jules Kroll established J. Kroll Associates in as a specialized consultancy focused on conducting for corporate purchasing departments, particularly in vetting suppliers, vendors, and proposed business deals to uncover hidden risks and . This venture addressed a prevalent gap in the business landscape of the era, where opaque practices and reliance on informal networks often exposed companies to unverified transactions without systematic scrutiny. Kroll's approach pioneered the application of investigative techniques to corporate , emphasizing verifiable intelligence derived from primary sources rather than anecdotal assurances, thereby introducing a model of empirical risk mitigation in an age dominated by intuitive deal-making. Initially operating as a one-man firm from modest beginnings, Kroll Associates grew by demonstrating the causal value of thorough background checks in preventing financial losses from deceptive suppliers or misrepresented assets, drawing on real-world examples of vulnerabilities in supply chains that Kroll had encountered in prior professional contexts. The firm's early prioritized on-the-ground verification—such as tracing structures and financial histories—over superficial evaluations, countering the naive trust that characterized many 1970s corporate interactions and establishing investigations as a proactive tool for safeguarding transactions. This foundational emphasis on data-driven diligence laid the groundwork for the company's reputation in corporate security, though it remained narrowly focused on purchasing-related inquiries during its nascent phase.

Growth and diversification

Kroll, Inc., initially focused on corporate investigations, scaled rapidly in the 1980s amid accelerating and heightened demand for in emerging markets, evolving from a niche New York-based advisory firm into a broader provider. The of 1977 spurred new revenue streams in compliance and auditing, enabling the company to handle multinational inquiries into illicit financial flows. This period saw strategic openings of international offices in key hubs like , , , , and , facilitating operations in politically volatile regions and attracting expertise in cross-border intelligence gathering. By the 1990s, amid corporate scandals that exposed vulnerabilities from opaque dealings, Kroll diversified into comprehensive services encompassing and protections for executives navigating unstable environments. The firm exemplified this capability through engagements like probing the looted assets of Philippine dictator , which required assembling multilingual teams versed in tracing funds across jurisdictions and underscoring the perils of inadequate pre-transaction vetting. Concurrently, expansion into and background screening for addressed causal links between deficient intelligence—such as overlooked or reputational risks—and subsequent financial impairments, with clients increasingly mandating such checks to avert multimillion-dollar losses. These moves positioned Kroll as a leader in preempting enterprise threats, growing its footprint to dozens of global outposts by the early 2000s.

Key achievements and high-profile cases

Kroll led investigations that recovered millions in assets stolen by Philippine President following his regime's overthrow in 1986, tracing funds hidden through complex international networks of shell companies and bank accounts. Similar efforts traced fortunes plundered by Haitian dictator , exposing patterns of illicit financial flows and enabling partial asset repatriation. These cases demonstrated Kroll's methodology of rigorous and global intelligence gathering to uncover verifiable trails of , rather than relying on unconfirmed allegations. Kroll pioneered modern corporate practices in the 1970s, introducing systematic background checks and assessments for banks evaluating deals and partners, a concept then novel in . This approach shifted industry standards from superficial reviews to in-depth investigations of personal and corporate histories, preventing in high-stakes transactions. His innovations earned recognition as the founder of the corporate investigations sector, emphasizing over reputational assumptions. In 2020, the Association of Certified Fraud Examiners awarded Kroll the Donald R. Cressey Award for lifetime contributions to fraud detection and deterrence, highlighting his role in advancing anti-fraud methodologies through diversified expertise in , , and . Following the September 11, 2001 attacks, Kroll expanded security consulting services, delivering data-driven risk assessments for and corporate clients that focused on quantifiable threats and , avoiding unsubstantiated speculative narratives. These efforts included vulnerability analyses for major buildings, prioritizing actionable derived from historical incident data and operational realities.

Sale to Marsh & McLennan and subsequent ventures

In 2004, Jules Kroll sold to Companies for $1.9 billion in cash, a transaction that underscored the firm's proven model in mitigation and investigations amid synergies with Marsh's brokerage operations. The deal provided shareholders, including Kroll, with $37 per share, capitalizing on post-9/11 demand for corporate security and services. This divestiture allowed Kroll to exit operational management while retaining influence through non-compete provisions, reflecting a strategic pivot amid evolving regulatory scrutiny in advisory. Following the sale, Kroll co-founded K2 Intelligence in 2009 with his son Jeremy Kroll, emphasizing technology-driven investigations, compliance, and integrity risk services to address gaps in exposed by the . The firm, later rebranded as K2 Integrity, expanded into advisory on financial crimes and asset recovery, operating from offices in New York, , and . Concurrently, Kroll established the Kroll Bond Rating Agency (KBRA) in 2010 to provide independent credit ratings, aiming to restore credibility in the sector post-crisis by prioritizing analytical rigor over issuer-paid models. As executive chairman of K2 Integrity, Kroll continued steering its focus on high-stakes integrity challenges, demonstrating adaptation to market demands for unbiased risk assessment. In 2021, a trademark dispute arose between the successor entity to the original Kroll, Inc. and K2 Integrity, centered on branding rights; the original sale agreement had required Kroll to relinquish the "Kroll" name for an additional $100 million, but litigation ensued over perceived infringements, ultimately resolved via contractual enforcement in federal court. This episode highlighted tensions in post-sale intellectual property boundaries but affirmed Kroll's commitment to legal precision in venture delineation.

Controversies and criticisms

Allegations of deceptive practices

In 2009, reported allegations that Kroll employees, in the late 1980s, impersonated a police officer and a to intimidate , who had pleaded guilty to in 1987, by scaring off a potential donor to a children's camp associated with Siegel and paying his 16-year-old babysitter $50 for potentially damaging information; the tactics were aimed at discouraging Siegel's testimony against an arbitrageur linked to a corporate client. Jules Kroll disputed the account, maintaining that his firm avoided illegal methods employed by "cowboys" in the industry. Critics highlighted these actions as emblematic of tensions between aggressive client advocacy and ethical transparency in private investigations, where impersonation—potentially violating laws against false personation in New York—prioritized outcomes over candor. Kroll's operational guidelines emphasized reliance on legal human intelligence sources while eschewing overt crimes like wiretapping or break-ins, yet permitted deceptive tactics deemed essential for penetrating adversarial environments where subjects conceal information. Firm executives, such as E. Norbert Garrett, asserted that probing restricted areas like bank interiors crossed legal boundaries they refused to breach, framing as a calibrated tool rather than recklessness. Such policies reflected Kroll's rationale that, in high-stakes probes involving or litigation, measured subterfuge enabled the revelation of obscured facts, though detractors contended it eroded and blurred lines between legitimate and manipulation. The firm's methods contributed to the broader of private investigation, evolving it from a historically "grubby trade" reliant on shadowy operators to a structured service integral to corporate , albeit one retaining elements of that invited for ethical overreach. This transformation under Kroll's leadership standardized aggressive intelligence-gathering but perpetuated debates over whether industry necessities justified practices verging on deceit, particularly absent regulatory oversight on non-governmental actors. In 2017, K2 Intelligence, the firm founded by Jules Kroll, was retained by to conduct investigations aimed at discrediting accusers and suppressing media reports on allegations of against him. This engagement drew scrutiny for prioritizing client interests over broader ethical considerations, as the firm's efforts included gathering intelligence on journalists and potential witnesses, which critics argued facilitated the perpetuation of abusive behavior by providing actionable defenses rather than objective . Following the public exposure of the Weinstein scandal in October 2017, K2 Integrity—Kroll's rebranded firm—implemented a policy in to reject clients accused of or , marking a shift toward more selective engagements amid heightened scrutiny from #MeToo revelations. Kroll acknowledged in a 2021 interview that this policy was not absolute, allowing discretion for cases lacking credible evidence, which some observers interpreted as evidence of reactive rather than principled ethics, potentially influenced by reputational risks rather than consistent standards. Prior to this, the firm had accepted similar high-profile clients without such restrictions, highlighting tensions between profit motives and impartiality in investigations where outcomes could shield wrongdoing. Critics have pointed to these client selections as examples of selective truth-seeking, where investigative rigor appears calibrated to client objectives in contentious defenses, contrasting with the firm's successes in exposing in unrelated cases like asset recovery for governments. However, Kroll maintained that engagements are vetted for legitimacy, emphasizing empirical verification over unsubstantiated claims, though the Weinstein case underscored risks of conflicts when representing parties later proven culpable through legal proceedings. No formal regulatory sanctions resulted, but the episode fueled debates on self-regulation in private intelligence firms handling sensitive client matters.

Philanthropy and civic engagement

Support for criminal justice education

Kroll chairs the Board of Trustees of the John Jay College of Criminal Justice Foundation, a role in which he has steered philanthropic resources toward bolstering the institution's core programs in investigative techniques, , and policy. College, affiliated with the , prioritizes hands-on, data-oriented curricula that equip students with skills in evidence collection, fraud examination, and operational policing tactics, drawing on real-world applications rather than theoretical ideologies. Under Kroll's leadership, the foundation has supported initiatives like the 2014 launch of the $50 million Campaign for the Future of Justice, which expanded facilities and endowed scholarships for training in these empirical disciplines. In a prior capacity as a member of the Board of Regents at , Kroll advocated for advancements in legal and policy education that stress causal mechanisms and verifiable outcomes over unsubstantiated equity frameworks often critiqued for lacking empirical grounding. This involvement included oversight of the Georgetown Law Center's Board of Visitors, where efforts focused on curricula integrating and —fields aligned with Kroll's professional expertise in corporate investigations. Such support counters academic trends prone to bias, as evidenced by studies documenting ideological skews in social sciences that undervalue data-driven models. Kroll's targeted giving has thereby fortified forensic and analytical capacities at these institutions, fostering generations of practitioners reliant on primary and logical deduction to address causation, in opposition to reform agendas emphasizing anecdotal narratives without rigorous validation.

Broader charitable efforts

Kroll and his wife, Lynn Kroll, established the Lynn and Jules Kroll Fund for Jewish Documentary Film in 1996 under the auspices of the Foundation for Jewish Culture, with initial support from the Righteous Persons Foundation. The fund provided grants typically ranging from $15,000 to $35,000 to filmmakers producing documentaries on , culture, and themes, emphasizing factual portrayals of historical events without narrative embellishment. This initiative supported projects that preserved and disseminated primary-source-driven accounts of Jewish experiences, including lesser-known narratives, through independent production rather than institutional agendas. The fund continued operations until 2014, when the Foundation for Jewish Culture closed, after which its model influenced successor organizations like Jewish Story Partners, which absorbed related endowments and announced grants in 2021 and 2023 drawing on the Kroll legacy for similar documentary projects. In 2014, Cornell University's Hillel chapter recognized the Krolls with the Tanner Prize for their contributions to Jewish cultural preservation via the fund, highlighting its role in funding films that prioritize historical accuracy over contemporary reinterpretations. Beyond cultural film support, the Krolls directed family philanthropy through the Lynn and Jules Kroll Family Foundation, a 501(c)(3) entity focused on charitable causes including community initiatives, though detailed grant distributions emphasize targeted, outcome-oriented giving rather than broad social campaigns. This approach aligned with Kroll's broader pattern of funding practical, evidence-based efforts in preservation and community stability, distinct from performative or quota-driven programs.

Personal life

Family and relationships

Jules Kroll married Lynn Korda on September 15, 1968, in a ceremony documented in contemporary announcements. The couple raised four children in , initially in a 5,900-square-foot home before relocating to a larger property as their family matured. Their children include sons Jeremy Kroll, the eldest, and Nicholas "Nick" Kroll, along with daughters Dana Kroll and Vanessa Kroll Bennett. Nick Kroll has pursued a public career in and , while Vanessa Kroll married Roger Bennett in 2000 at the family home in . Intergenerational ties within the family extend to business endeavors, with Jeremy Kroll collaborating closely with his father on ventures following the sale of the original Kroll firm. A notable family-related legal dispute emerged in 2021, dubbed "Kroll vs. Kroll," involving claims of over the use of the "Kroll" name by Jules and Jeremy Kroll's post-sale entity, K2 Integrity, against the acquiring firm formerly known as . The suit, filed in November 2021 in the U.S. District Court for the Southern District of New York, centered on agreements from the 2018 acquisition where Jules Kroll had relinquished broad rights to the brand name in exchange for compensation, yet sought limited personal usage exceptions. Proceedings highlighted tensions over naming conventions but were addressed through formal , reflecting empirical resolution via contractual and law.

Lifestyle and later years

Kroll has resided primarily in , on a 15-acre waterfront estate that includes multiple structures, having expanded from an initial 5,900-square-foot family home where he raised four children with his wife, Lynn Korda. This setup accommodates his grandchildren, reflecting a family-oriented routine amid his otherwise private post-career life. In later years, Kroll sustained involvement in investigative discourse through public engagements, such as his 2020 keynote at the Association of Certified Fraud Examiners (ACFE) Global Fraud Conference, where he received the Cressey Award and urged fraud practitioners to innovate continuously to counter evolving threats. He emphasized practical advancements in detection methods, drawing from his foundational work in corporate . As of 2021, at age 80, Kroll demonstrated ongoing vitality through reflective interviews on his investigative legacy, maintaining influence via K2 Integrity while prioritizing family amid New York-area properties. His low-key personal habits contrast with his professional prominence, underscoring a deliberate shift toward domestic stability after high-profile ventures.

References

  1. https://time.com/6095957/jules-kroll-private-detective-profile/
  2. https://www.k2integrity.com/en/about-us/our-story/
  3. https://www.fraudconferencenews.com/home/2020/6/22/jules-kroll-stresses-that-practitioners-cant-grow-without-innovating
  4. https://www.smh.com.au/business/welcome-to-the-murky-world-of-kroll-inc-the-private-cia-20050625-gdlkpn.html
  5. https://www.forbes.com/sites/brucerogers/2014/03/31/jules-krolls-kbra-out-to-disrupt-cozy-ratings-agency-business/
  6. https://www.newmarketsvp.com/portfolio-companies/kroll-bond-ratings
  7. https://www.linkedin.com/in/jules-b-kroll-376a4320b
  8. https://www.newyorker.com/magazine/2009/10/19/the-secret-keeper
  9. https://www.irishtimes.com/politics/2023/07/18/who-are-kroll-the-investigators-brought-in-to-run-rule-over-national-childrens-hospital/
  10. https://www.celebritynetworth.com/richest-businessmen/ceos/jules-b-kroll-net-worth/
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  13. https://news.cornell.edu/stories/2003/06/jules-kroll-63-selected-2003-entrepreneur-year
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  26. https://www.reuters.com/article/world/americas/marsh-mclennan-selling-kroll-for-13-billion-report-idUSTRE6281WK/
  27. https://globalinvestigationsreview.com/survey/gir-100/2019/organization-profile/k2-intelligence
  28. https://www.k2integrity.com/en/about-us/our-team/
  29. https://dockets.justia.com/docket/new-york/nysdce/1:2021cv09037/569135
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  31. https://unicourt.com/case/pc-db5-kroll-llc-et-al-v-k2-integrity-holdings-inc-et-al-1068846
  32. https://thebhc.org/abstract/86651
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  34. https://privacyinternational.org/sites/default/files/2022-05/PI-Briefing-PI.pdf
  35. https://alumni.georgetown.edu/speaker/jules-kroll/
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  38. https://archives.cjh.org/repositories/3/archival_objects/297985
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  43. https://projects.propublica.org/nonprofits/organizations/133346838
  44. https://www.cuny.edu/wp-content/uploads/sites/4/page-assets/about/invest-in-cuny/Jules-B-Kroll.pdf
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  46. https://www.nytimes.com/1997/09/04/garden/couples-build-bigger-as-their-children-leave-home.html
  47. https://www.nytimes.com/2000/10/29/style/weddings-vanessa-kroll-roger-bennett.html
  48. https://filehandler.lbr.cloud/files/alm/1IMTD12-mMIHryJHhZUzAVr3Sj5_Hjh-H.pdf
  49. https://www.lohud.com/story/money/personal-finance/taxes/david-mckay-wilson/2014/04/24/star-wars-percent-rye-recipients-lose-tax-exemptions/8132329/
  50. https://www.acfe.com/fraud-magazine/all-issues/issue/article?s=2020-septoct-light-the-way-virtual-conference
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