Chapter 4 - Eleven Million Dollars)
Rebecca Hayes was Richard’s older sister.
She had never worked for Hayes Development Group.
She had, however, spent twenty years introducing herself as a “strategic adviser” to friends at charity dinners.
Caroline immediately ordered a deeper investigation.
Cardinal Municipal Partners had received payments totaling $11.2 million from Hayes Development and two project subsidiaries over eighteen months.
The invoices listed services such as stakeholder coordination, public affairs strategy and municipal liaison consulting.
Some descriptions were duplicated.
Others lacked supporting records.
Three payments had been issued on dates when Hayes Development was already experiencing liquidity pressure.
Caroline called Madison.
“Has Aunt Rebecca ever worked with Dad?”
Madison laughed.
“Worked?”
“Yes.”
“Rebecca thinks choosing flowers for a fundraiser is work.”
“Has she been around the office?”
“Sometimes.”
“How often?”
“I don’t know. Why?”
Caroline did not want to tell Madison yet.
“Just curious.”
“You don’t do curious.”
“Apparently I do now.”
Later that week Caroline flew to Charlotte without telling Richard.
She met Diane at Madison’s apartment.
Her mother looked exhausted.
Diane hugged Caroline and held on longer than usual.
“Your father says you’re trying to take over his company.”
Caroline pulled back.
“Did he explain how?”
“No.”
“Because I’m not.”
“Then what are you doing?”
“Trying to understand what he’s done.”
Diane sat.
Madison brought coffee.
Caroline placed copies of the guarantee documents on the table.
“Mom, did Dad ever discuss pledging the house before this?”
“No.”
“Any trusts? Loans? Refinancing?”
Diane hesitated.
“What?”
“He asked me to sign papers last year.”
“What papers?”
“I thought they were tax documents.”
Caroline felt her stomach tighten.
“Do you have copies?”
“I don’t know.”
“Did you sign in front of a notary?”
“Yes.”
“Who?”
“Someone from Richard’s office.”
Caroline and Madison exchanged a look.
“What was his name?”
“Her name. Elaine something.”
“Elaine Porter?”
Diane nodded.
Madison whispered, “She’s Dad’s executive assistant.”
Caroline stood.
“Mom, we need your attorney.”
“Richard will be furious.”
“I’m past caring.”
“Caroline.”
“Mom, you may have signed documents affecting millions of dollars in assets without understanding them.”
Diane began twisting her wedding ring.
“He always handled money.”
“That doesn’t give him ownership of you.”
Diane stared at her hands.
Then she whispered something Caroline had never expected.
“I think he has another account.”
Madison leaned forward.
“What?”
“I found a statement in his desk.”
“When?”
“Two months ago.”
“What kind of account?”
“I don’t know. The balance was almost three million dollars.”
Caroline frowned.
Richard’s financial disclosures did not show such an account.
“What institution?”
“Blue Ridge Private Trust.”
Caroline knew the name.
Boutique wealth management.
Strict confidentiality.
“Was it in Dad’s name?”
Diane shook her head.
“It said RHC Holdings.”
Caroline opened her laptop.
RHC Holdings did not appear on any corporate structure chart she had seen.
“Do you still have the statement?”
Diane reached into her handbag.
She removed a folded photocopy.
“I made this.”
Caroline stared at her mother.
Diane looked almost ashamed.
“I knew he would take the original if he saw me with it.”
Caroline unfolded the page.
The balance was $2,917,440.
Three large incoming transfers were visible.
One came from Cardinal Municipal Partners.
Caroline looked up.
Madison noticed her expression.
“What?”
Caroline slid the paper across the table.
Madison read.
“Cardinal?”
“You know it?”
“No.”
“Aunt Rebecca owns it.”
Diane’s face changed.
“What?”
“Her company received more than eleven million dollars from Dad’s development entities.”
Diane went pale.
Madison whispered, “Why would Dad send Rebecca eleven million dollars?”
Caroline looked at the statement.
“I don’t know.”
But she intended to find out.
Her phone rang.
Richard.
She declined.
It rang again.
Declined.
Again.
Then Madison’s phone rang.
She answered.
“Dad?”
Richard was shouting loudly enough that Caroline could hear him.
“Is your sister there?”
Madison looked at Caroline.
“No.”
Richard said something else.
Madison’s eyes widened.
“What do you mean the bank sold it?”
Caroline did not move.
Madison listened.
Then slowly looked at her sister.
“Dad says somebody bought part of the Westbridge loan.”
Caroline closed her laptop.
Richard shouted through the phone.
“Find Caroline. I need to know whether her investor friends have heard of CH Meridian Partners.”
Madison stared at Caroline.
Caroline raised one finger to her lips.
Madison swallowed.
“I’ll ask.”
She ended the call.
For five seconds nobody spoke.
Then Madison said, “Caroline.”
“Yes?”
“What is CH Meridian Partners?”
May you like
Caroline looked at her sister.
“My company.”
