“Well, I guess the time has come for all of us to stop trusting him,” said John.
“I never thought I would hear you say that,” said Lauren, as she looked over her shoulder at John who was relaxing in one of the chairs.
“Yeah, well, things change.”
“You changed awfully fast and you talk differently, too.”
“Yeah?”
“Yeah. You’ve got an Americanized accent,” she said. “What’s he like?”
“Who?”
“Our half brother, what is he like? What’s his name?” Lauren picked up her cup from the desk took a sip of tea.
“His name’s James and he’s a nice guy. He’s got his own business and he takes care of his mother who is a good woman. Her name’s Rose. When I arrived, she made all my favorite dishes by herself. I’ll tell you something else. She took the time to try to get to know me. It’s easy to see why Dad likes being around her, she tries to make you feel comfortable.”
“You better not let Mom hear you talk about her.”
“Well it's too late for that. Mom let me have it when I just mentioned her name.”
Rebecca entered the office. “The other board members have arrived.”
“Let the battle begin. Tell everyone the meeting will begin in ten minutes, but make sure Richard is the last to know,” said Lauren.
“He was pissed enough when I said he wasn’t on the board,” said Rebecca.
“I can imagine, but it served its purpose. Nevertheless, around ten.”
“Yes, Lauren. Is there anything else?”
“No, thank you. I’ll talk to you after the meeting. John, I need a few minutes to collect my thoughts. Can you do me a favor and- -”
“You don’t have to ask. I’ll see you in the boardroom.” John stood, reached over the desk and kissed her on the cheek before leaving.
*
The symbol of a dragon breathing fire perched upon the top of a mountain, with a sheer face, the corporation’s symbol, was carved into the center of the cherry wood boardroom table and inlaid with pure 24-karat gold. The table was small today, having been made ready to accommodate the fifteen board members expected to attend. Lauren left her office, walked along the corridor and saw shapes of people sitting or standing around the table through the frosted glass of the boardroom wall. Taking a deep breath, she pushed through the glass doors, entered and felt all eyes focused upon her as she walked with authority to the head of the table. Rebecca took a seat at a smaller table off to one side, opened her notebook and took a pen.
Lauren stood just a moment and stared into the eyes of each man, waiting to see if anyone would challenge her right to sit in her father’s chair before she sat down. “Good morning, gentlemen, shall we begin? There’s a great deal to go through today.”
Lauren saw John was seated on her left side at the farthest end of the table. Various men including her father’s three most loyal business associates, Misters Kwok, Chong, and Chen were seated on her immediate right. The five men belonging to her father’s society were seated directly to her left. Richard, when he arrived, would be forced to take the last seat, at the utmost end of the table, a further slap in the face as he usually sat to her father’s right. She wanted Richard to feel he was on trial. In the meantime, she made polite conversation with Mr. Yi, the Cha So, Treasurer, of the Golden Dragon Society. She checked her watch and saw it read ten.
“Rebecca, please call Mr. Cheng’s office and see what’s detaining him. While we’re waiting, I would like to go over today’s agenda that’s in the packet in front of you. If you take a moment to review this, you’ll note that I’ve called for our banker, Mr. Ping, to give us a status report. Mr. Lao, our financial advisor, has also been called in to address certain issues and we’ll be having a conference call with Mr. Jameson in London, concerning our financial holdings in Europe.”
Each man took out the papers mentioned and began to read them.
“If there are no objections, I would like to continue along this line,” she paused to see if anyone would say anything. “Good, then let’s begin. Rebecca, any word from Richard?”
“He’s on his way and will be here, shortly,” said Rebecca.
“Shouldn’t we wait for Mr. Cheng, Ms. Choi?”
Lauren looked at Mr. Lin and added his name to the list of Richard’s supporters. “We don’t need Mr. Cheng to begin discussions of the preliminary issues.”
“But, without Mr. Cheng?” Lin persisted.
“Gentlemen, I do not wish to inconvenience all of you, just because Richard’s tardy.”
“Excuse me, Ms. Choi,” Mr. Yi spoke. His voice had an intimidating resonance. “Mr. Lin, we’re ready and can hold these preliminary discussions without Richard. Please continue, Ms. Choi.”
“Thank you,” Lauren said to Mr. Yi. “As I was saying, you know my father- -”
“But she’s a woman. Gentlemen, we really should wait for Mr. Cheng before beginning.” Mr. Lin protested, not caring a thing about Yi’s reputation. He wasn’t about to be intimidated. Richard made it very clear; dissuade Lauren from conducting any meetings without him.
“Mr. Lin, perhaps you should reconsider your statement,” said Mr. Yi.
“Thank you, Mr. Yi, for your support, but please, let me address this issue.” Lauren stood, so she could stare down the man. “Mr. Lin, you are very perceptive in seeing that I’m a woman, but you’re also blind. For a man whose division has been hiding a thirty million US loss, you have a great deal of nerve to question my abilities, before listening to what I have to say.”
“How dare you!” Mr. Lin rose to confront Lauren.
“Thirty-Million dollars?” Mr. Kwok questioned as did a few of the other men present.
“Yes, gentlemen. Thirty million American. Thirty-million dollars are missing from the investment portfolio controlled by Mr. Lin, our textile division’s corporate treasurer.”
“Lauren, such accusations shouldn’t be made. What proof do you have?” Mr. Yi had spoke with George and knew which direction George wanted the meeting to progress.
“I have proof and evidence to back up my statements.”
“This is outrageous. You have no right to speak to me this way,” shouted Mr. Lin.
“Really? Gentlemen, may I remind you that at the emergency board meeting held by conference call with my father, I was elected Chairperson of this corporation. If any of you doubt my abilities, I suggest you resign your position, immediately.”
“Ms. Choi.”
“Yes, Mr. Lin?”
“What proof do you have that my division had a loss? It always showed profit!”
“The facts, Mr. Lin, speak otherwise. Facts state that through ghost transactions, money was paid out, but neither raw materials, nor products were received!”
“What are these facts? I demand to see your proof and- -” Lin was silenced by Richard’s entrance.
“Gentlemen?” Richard sensed a confrontation in progress.
“Good morning Richard, nice of you to join us. We’ve saved a seat for you at that end of the table.” Lauren indicated the empty chair next to Mr. Lin.
“I think you are mistaken Lauren.” Richard walked to the head of the table. “While your father may have appointed you from his hospital bed, it’s my intention to question your ability to run this corporation. After all, you’re just a woman an- -”
Mr. Yi, rose from his seat, and stood at the least a foot above Richard. He stretched his arm outward, and blocked Richard’s access to Lauren’s chair, at the head of the table. Richard stopped, aghast to say the least. It would be difficult to say whether Richard felt intimidated by the man, or was shocked that someone would have the audacity to deny him. Perhaps it was a combination of both. “Richard, George appointed his daughter, to run his company. If you wish to challenge this, then take your place at the end of the table and raise it as an issue. We’ll then vote. I must inform you, however that for purposes of this meeting, I have been given proxy t
o vote all the Choi family shares. Need I also remind you of your sworn oath to support George?”
“I don’t need you, or any man, to remind me of my duty and obligations. But mark my words; a woman doesn’t belong in business.”
“I believe Lauren has demonstrated her abilities. She has increased the profitability of her hotel chain by thirty-five percent,” said Mr. Yi.
“Ahhhh yes, a hotel chain. Let’s not forget that hotel chain.” Richard moved away from Mr. Yi’s outstretched arm and walked behind the chair while caressing the top of it with desire as he continued down the opposite side of the room to his appointed place. “The running of a hotel chain is similar to running a house. It’s no wonder a mere woman has shown some success at its helm, given it is so similar to what they are suited to doing best. That and babies. Ah, yes, babies. What was that bit in the papers last week? Hmmmm, I know. It said you were pregnant?”
“First, Richard, my personal life has no bearing on running this corporation. Second, you of all people should know that the papers have printed a retraction and an apology. Third, Richard, do not belittle the running of a hotel. Need I remind you that I have successfully negotiated labor contracts and renegotiated supplier contracts, lowering the costs of hotel supplies? I’ve worked with our bankers to reduce our outstanding debt. In improving the quality of the service, we’ve seen our balance sheets infused with an increase in capital that fresh business, from the business traveler, has brought. Need I remind you, Richard, of your failure to turn that very hotel chain into a profitable entity? You were responsible for running that unit for ten years. In two years, I rescued the hotel from the brink of bankruptcy where you had left it to rot. Fourth, if anyone is going to question anyone’s right, I question your right to sit on this board. Upon examination of the corporate books, several discrepancies have been uncovered. Between you and Mr. Lin, some seventy-five million American dollars are missing. In addition, another twenty-million were sent via money transfers to banks located in the Grand Cayman Islands. Where have you been investing the funds, Richard? What is the expected profit potential? Did you hedge any of these investments? What kind of investments were they or did this money just disappear, into your pocket?”
Lauren walked back to her chair at the head of the conference table and gracefully, took her seat. “I’m waiting for a reply, Richard. We all are. Since we’ve left the proposed agenda and moved directly to item five, perhaps, I should call in the bankers.”
“Lauren surely you must be mistaken. Seventy-five million American? Missing? If these funds were missing, how come the auditors did not uncover the discrepancy? Where’s your proof?” Richard stumbled into his chair. How did the vixen uncover the trail?
“I have proof, Richard. Proof will show that not only have you siphoned off money, with Mr. Lin’s assistance I might add, but also an additional thirty-five million is missing from the shipping division. Another ten million seems to have bypassed being deposited in our Swiss accounts and for some strange reason, was directly deposited into Grand Cayman accounts that only you seem to control. And, I hesitate to add that I suspect upon further evaluation of prior years' records, a more detailed listing will surface showing that the amount of missing funds is closer to over a hundred million.”
“Prove it,” said Richard with false confidence.
“Very well,” said Lauren. “Rebecca, please ask Mr. Ping to come in now. Thank you.”
Mr. Ping entered the room cautiously. Although Mr. Yi had assured him everything was okay, he felt unnerved by the staring eyes directed at him. “Morning?”
“Good Morning, Mr. Ping,” said Lauren in Cantonese, the only language the man spoke. “Mr. Ping, over this past weekend, you delivered to my home all the current records concerning Dragon Nest transactions. Isn’t that correct?”
“Yes, Ms. Choi.” Mr. Ping looked fearfully at Richard, nodded his head while clutching a sizable stack of folders and papers. His whole body seemed to tremble.
“Is it true, transactions to certain banks were authorized by Misters Cheng and Lin?”
“Yes, Ms. Choi, but I just do the transfers. I don’t know why Richard asked for them. I didn’t ask why,” Ping said meekly.
“That wasn’t the question, but thank you for telling us. I made another request. Did you obtain the information concerning the identification of the account holders?”
“Yes, they belong to a company called Red Tiger Enterprises. I tried to determine who the owner of that corporation is but as of this time that information is not available.”
“Thank you, Mr. Ping. Now Richard- - I’m sorry, yes Mr. Yi, you have a question.”
“Mr. Ping, did you say Red Tiger Enterprises?” Mr. Yi knew Richard owned Red Tiger.
“Yes Sir.” Mr. Ping sat nervously looking at Richard, trying to be still.
“You’re certain the name is Red Tiger,” questioned Mr. Yi, yet again.
“Yes Sir. My agents back at the office are looking into the records, for further discrepancies. From what we can determine, it seems to be an investment company of sorts. We have some documents here.” Ping held out his stack of papers wishing someone would take it from him.
“What does that mean? Isn’t it?” Mr. Yi stared hard at Richard.
“Well, yes and no. While it has been set up on our bank's books as an investment house, no one seems to know anything about this firm.”
“What do you think, Richard?” Lauren looked directly at Richard, with cold eyes.
“Ms. Choi.” Richard spoke sarcastically. “The amount of funds you have mentioned, what did you say 35 or 40 million. To transfer this much money would have required both your father’s and my signature. Since it wasn’t given, then it wasn’t done.”
“Excuse me, Mr. Cheng, but we have records of the transactions. If you or anyone else wishes to examine them, here they are.” Lauren opened a folder and produced the documentation. “Please take a look at these gentlemen. Each document bears either Mr. Lin’s or Mr. Cheng’s signature, or in case of larger amounts, both signatures. This document in particular, is interesting, Richard. This document, bearing your signature and something that is suppose to represent my father’s, gives authorization to Mr. Lin to transfer funds into and out of Dragon Nest’s bank accounts at Mr. Ping’s bank. With this document, you have given the Treasurer of a subsidy, control of the parent company’s funds. Why Richard? How did you manage to forge my father’s signature? Where is the money, Richard?”
Richard sat at the end of the table, perfectly still. A large portion of his activities had been uncovered. Did this woman sift through transaction after transaction? And if she did, how much does she know? Impossible he thought, he couldn’t be undone by a woman, but she had managed to damage his reputation severely.
Richard said after a long silence, “Ms. Choi I find it- -” but he was cut off by Mr. Yi.
“Richard, these are your signatures and your seal. Please explain. Did you perhaps, invest the money without the board’s consent?” In effect, Mr. Yi was offering Richard a way out. If the funds were invested, they could be returned with interest, but Richard’s credibility would still be gone.
“Actually, Mr. Yi, the funds are invested in our offshore accounts. I assure you, Mr. Choi had full knowledge. Ms. Choi, when I speak to your father, he’ll recall these investments.”
“I’ve spoken to my father, who has no recollection of these investments at this time. The issue remains, funds were transferred and invested without the entire board’s consent. Which banks, Richard? I have a list from our auditors, but I want to hear it from you,” said Lauren.
“At Credite de Reims, National Bank of North America, and the Bank of Tokyo,” Richard tried to salvage his position but knew that if he could, he would have to disappear, today.
“Thank you, Richard. I had the documentation for Credit De Reims and Banque de Paris. I’ll have our auditors review the others. What is the projected return?”
Richard closed hi
s eyes in disgust that he had given her information she didn’t already know. “I would have to check the records.”
“I would like to know an estimated percentage Richard, and whether these are long or short term investments, considering the size of the funds involved.” Mr. Yi stared at Richard.
“I would estimate approximately, five-point-seven-five percent.” Richard’s voice crackled with stress as he stared with intensity at Yi.
“That is a fair return on the National Bank of North America investment. But what about Credit De Reims and Banque de Paris investments? Surely, the return was greater.” Mr. Yi wanted Richard’s price to be large enough that he would cripple the Cheng line for decades if the other rumors were true.
Richard couldn’t negotiate down. The price being discussed was the cost of his life, to remain alive. “The return was approximately the same. I would have to check to be certain.”
“I’ll expect a report on my desk by tomorrow morning detailing the investment structure. I expect to see a projected statement of earnings as revalued against current market prevailing rates for each investment, as well as the expected date of return. Make sure you list how the investments were hedged. I’ll also expect an explanation of this list of transactions, which according to the preliminary investigation, have been determined questionable. If other banks are involved, I expect to see them listed as well.” Lauren produced a list, which was passed down to Richard.
“You have the audacity to demand a report?” Richard stated.
“Mr. Cheng!” Mr. Kwok spoke up for the first time, having seen the papers that Lauren had strategically placed on her right, detailing his transgressions. Having seen them, he decided it was in his best interest to side with her. “Mr. Cheng, as a fellow board member I too question these investments and would like to see the report being requested by Ms. Choi, as I’m sure, would the other board members. I’d like, at this time, to motion for a full audit of our books to determine if other funds were misappropriated. Second, I would like to recommend disciplinary action be taken against Mr. Cheng for trying to divert these funds. I feel he should be dismissed.”
The Dragon Within His Shadow Page 25