Oscar del Diego, a slight, small man, with average looks and above average intelligence, with a mind for numbers and ethical behavior, sat in front of the C.E.O. and President of the company he had worked for, going on, almost 3 years now. Oscar was nervous but he had an obligation to bring his boss, Mr. Xation Day, and the V.P. Jerome Hays, the terrible news, that could prove to be most detrimental to the company. "Gentlemen, thank you for meeting with me today., but, I have some bad news.., I'm afraid."
"Go on." Xation said as he sat behind his desk, arms folded across his chest, his heart racing.
"Yes, what have you discovered?' Hays turned his head, sitting next to Oscar giving him his full attention.
"Well, I have been going over the F.O.X file, the Friends Of Xation..," Oscar paused giving Xation a knowing look as he continued "Sir, I know and respect, these are your friends and many have foregone paying any closing cost, or standard fees.., or, in many cases, their mortgages altogether.., for months at a time..,, and, of course, this is all up to your discretion."
"Yes, this is common practice." Xation said, and he was absolutely correct in his statement. "But, first of all, I thought we put Mr. Reynosa in charge of those accounts." Xation looked at Hays who shook his head in agreement "Why is he not bringing this information to our attention?"
"Oh, Mr. Reynosa has been out sick with the flu for the past week." Oscar said "I just took over and wanted to make sure we were up to speed."
"I see." Xation replied realizing Mr. Reynosa was the source of all this trouble.
"Well, as I say, their are many accounts that are way over due in mortgage payments, to the tune of about $850,000. Now of course this has not been reported as a net gain, and does not affect the worth of our company.., however." Oscar said as he placed a file on Xation's desk saying "This is the account of William J. Sinclair, owner of the Bridgepoint Tower, located on South Padre Island, Texas.., in the United States."
"We know where Texas is! Now what is the problem? Hays said growing antsy, but both he, as well as Xation, knew exactly what he was about to say.
"Well now.., Mr. Sinclair has been making his mortgage payment of $75,000, every month, right on time." Oscar informed them.
"Well, I do not understand." Xation threw up his hands, feigning ignorance "This is what we want our clients to do, yes?"
"Yes, of course.., it's just, well somehow, the money comes in.., but minutes after the Internet transaction has hit our bank account, most of the money is diverted, with in the hour, to an off-shore account in Aruba. This has been going on for the past 23 months." Oscar said rubbing his temples, his migraine returning once again, then he continued "This money HAS been reported as part of our Net Worth and therefore our company's value has been inflated, without our shareholders knowledge."
Hays and Xation only sat there in silence staring at one another realizing that Oscar had discovered their dirty little, fraudulent, illegal secret and they knew something had to be done at once. "How much are we talking about here?"
"We're talking about $17,500,00.., quite a significant amount." Oscar said with a heavy sigh, knowing the Argentine government could seize the business and the Securities Exchange Commission could weigh charges against his boss, and millions in fines and fees, as well as devalue the stock/shares of the entire company, etc, etc, etc... "This is quite serious, all that money just disappearing, I can not even get passed the security to get any more information on the name of the company, or bank account the money was transferred to, it looks like someone installed a ghost program, and I do not have the training to deprogram it.., so I know you are the computer genius from M.I.T. Mr.Hays.., perhaps we can go to your office and I can show you exactly what I am talking about."
Xation gave Hays a look as if to say 'that can not happen', so Hays sat there a moment, deep in thought then he said "17 million?"
"And $500,000." Oscar added.
"Yes..," Hays said scratching is chin, looking at his watch "Say it's almost one o'clock, let's take a break for lunch and I want you to bring this file to my office at 2:OO and we will get to the bottom of this, I need to make a call to Mr.Reynosa and see just how involved he is in this conspiracy to defraud this company and our investors." Hays said trying to point the blame at an innocent man.
"Very well.., and Mr. Diaz." Oscar del Deigo said as he stood shaking Xation's hand "I am sorry to bring you such bad news. But I was only doing my job, what you pay me to do." Oscar mentioned as he had an awful, dreadful feeling that this would not end well.
"No.., thank you for your due diligence and the loyalty you have shown to me and my company."Xation said without a smile as he rose, towering over the little 'accountant', a droll little man, who went unnoticed most every where he went. "I want to have a full report on my desk in the morning Mr. Diego, we have to find out where all our money has gone."
"Thank you Mr. Diaz! I will do my best, with the help of our corporate law-dogs, we will get to the bottom of this!" Oscar said with a smile of great determination.
"Well, now hold on.., let's just keep this between ourselves, until we can get a handle on the situation." Hays interjected as he and Xation along with Oscar all agreed. So their astute forensic accountant took his leave to go and have a little light lunch before his meeting with the V.P. Jerome Hays.
It was about 43 seconds after his departure from Xation's office as the two sat there in silence, realizing their little scheme was starting to unravel and then Xation gave a serious, dreadful look to Hays, then he opened up his mouth and said "We have to get rid of him.., soon."
Hays gave Xation a look, as solemn as a grave, saying "Yes.., and Mr. Reynosa too."
"Go on." Xation said as he sat behind his desk, arms folded across his chest, his heart racing.
"Yes, what have you discovered?' Hays turned his head, sitting next to Oscar giving him his full attention.
"Well, I have been going over the F.O.X file, the Friends Of Xation..," Oscar paused giving Xation a knowing look as he continued "Sir, I know and respect, these are your friends and many have foregone paying any closing cost, or standard fees.., or, in many cases, their mortgages altogether.., for months at a time..,, and, of course, this is all up to your discretion."
"Yes, this is common practice." Xation said, and he was absolutely correct in his statement. "But, first of all, I thought we put Mr. Reynosa in charge of those accounts." Xation looked at Hays who shook his head in agreement "Why is he not bringing this information to our attention?"
"Oh, Mr. Reynosa has been out sick with the flu for the past week." Oscar said "I just took over and wanted to make sure we were up to speed."
"I see." Xation replied realizing Mr. Reynosa was the source of all this trouble.
"Well, as I say, their are many accounts that are way over due in mortgage payments, to the tune of about $850,000. Now of course this has not been reported as a net gain, and does not affect the worth of our company.., however." Oscar said as he placed a file on Xation's desk saying "This is the account of William J. Sinclair, owner of the Bridgepoint Tower, located on South Padre Island, Texas.., in the United States."
"We know where Texas is! Now what is the problem? Hays said growing antsy, but both he, as well as Xation, knew exactly what he was about to say.
"Well now.., Mr. Sinclair has been making his mortgage payment of $75,000, every month, right on time." Oscar informed them.
"Well, I do not understand." Xation threw up his hands, feigning ignorance "This is what we want our clients to do, yes?"
"Yes, of course.., it's just, well somehow, the money comes in.., but minutes after the Internet transaction has hit our bank account, most of the money is diverted, with in the hour, to an off-shore account in Aruba. This has been going on for the past 23 months." Oscar said rubbing his temples, his migraine returning once again, then he continued "This money HAS been reported as part of our Net Worth and therefore our company's value has been inflated, without our shareholders knowledge."
Hays and Xation only sat there in silence staring at one another realizing that Oscar had discovered their dirty little, fraudulent, illegal secret and they knew something had to be done at once. "How much are we talking about here?"
"We're talking about $17,500,00.., quite a significant amount." Oscar said with a heavy sigh, knowing the Argentine government could seize the business and the Securities Exchange Commission could weigh charges against his boss, and millions in fines and fees, as well as devalue the stock/shares of the entire company, etc, etc, etc... "This is quite serious, all that money just disappearing, I can not even get passed the security to get any more information on the name of the company, or bank account the money was transferred to, it looks like someone installed a ghost program, and I do not have the training to deprogram it.., so I know you are the computer genius from M.I.T. Mr.Hays.., perhaps we can go to your office and I can show you exactly what I am talking about."
Xation gave Hays a look as if to say 'that can not happen', so Hays sat there a moment, deep in thought then he said "17 million?"
"And $500,000." Oscar added.
"Yes..," Hays said scratching is chin, looking at his watch "Say it's almost one o'clock, let's take a break for lunch and I want you to bring this file to my office at 2:OO and we will get to the bottom of this, I need to make a call to Mr.Reynosa and see just how involved he is in this conspiracy to defraud this company and our investors." Hays said trying to point the blame at an innocent man.
"Very well.., and Mr. Diaz." Oscar del Deigo said as he stood shaking Xation's hand "I am sorry to bring you such bad news. But I was only doing my job, what you pay me to do." Oscar mentioned as he had an awful, dreadful feeling that this would not end well.
"No.., thank you for your due diligence and the loyalty you have shown to me and my company."Xation said without a smile as he rose, towering over the little 'accountant', a droll little man, who went unnoticed most every where he went. "I want to have a full report on my desk in the morning Mr. Diego, we have to find out where all our money has gone."
"Thank you Mr. Diaz! I will do my best, with the help of our corporate law-dogs, we will get to the bottom of this!" Oscar said with a smile of great determination.
"Well, now hold on.., let's just keep this between ourselves, until we can get a handle on the situation." Hays interjected as he and Xation along with Oscar all agreed. So their astute forensic accountant took his leave to go and have a little light lunch before his meeting with the V.P. Jerome Hays.
It was about 43 seconds after his departure from Xation's office as the two sat there in silence, realizing their little scheme was starting to unravel and then Xation gave a serious, dreadful look to Hays, then he opened up his mouth and said "We have to get rid of him.., soon."
Hays gave Xation a look, as solemn as a grave, saying "Yes.., and Mr. Reynosa too."
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