Chapter 8 - The Financial Dragnet

The raid took place on a rainy Tuesday morning at 6:00 AM.
Simultaneous federal and state search warrants were executed at three locations:
The corporate headquarters of Vance Capital Management on Wall Street.
Richard Sterling’s $8 million penthouse in Tribeca.
Miles Vance’s luxury brownstone in Brooklyn.
Federal agents from the Securities and Exchange Commission, accompanied by investigators from the New York State Attorney General’s Office and the Westchester County Sheriff’s Department, hit all three addresses at once.
I sat in the legal control room at Arthur Vance’s office, watching live feeds provided by internal corporate compliance officers who were co-operating with federal prosecutors.
On the main monitor, I watched raw footage from the Tribeca penthouse lobby.
Richard Sterling was led out of his private elevator in handcuffs, wearing a grey gym shirt and sweatpants, his hands bound behind his back by federal marshals.
His personal devices, hard drives, and encrypted servers were rolled out behind him in heavy blue bins.
At Vance Capital Management, federal agents seized forty servers containing the internal accounting ledgers of the Reynolds Acquisition deal.
By 10:00 AM, the Manhattan District Attorney held a press conference broadcast live on CNN and Bloomberg Financial.
District Attorney Alvin Vance—no relation—stood behind a wooden podium flanked by senior officers from the SEC and the Westchester Sheriff’s Department.
"This morning," the DA announced, his voice echoing through the briefing room, "federal and state authorities executed arrest warrants for Richard Sterling, former Managing Director at Vanguard-Apex; Marcus Vance, former Chief Legal Counsel; and Miles Vance, principal owner of Vance Capital Management."
The press corps erupted with camera flashes.
"These individuals have been formally charged in a forty-two-count indictment," the DA continued, "including Federal Wire Fraud, Securities Fraud, Money Laundering, Conspiracy to Commit Whistleblower Retaliation, and Criminal Facilitation of Felony Assault with a Chemical Substance."
A reporter held up a microphone. "Mr. District Attorney! What was the connection between the corporate fraud and the wedding assault on Sloan Ward?!"
The DA adjusted his papers. "The investigation has revealed that the violent chemical assault on Senior Vice President Sloan Ward was a targeted, pre-meditated act designed to discredit Miss Ward as a corporate witness prior to her reporting an $80 million institutional fraud scheme to federal regulators."
"Who provided the chemical?!" another reporter shouted.
"The corrosive chemical compound was procured by Miles Vance through a commercial medical supplier affiliated with his family’s private holding company," the DA revealed. "Mr. Vance provided the chemical agent to Fallon Ward under false pretenses to execute the assault on live digital video."
I clicked off the television screen.
The room was completely quiet.
Greer looked at me, her eyes filled with tears. "It's over, Sloan. They got all of them."
"Not yet," I said softly, looking down at my hands. "The criminal court handles their freedom. My spreadsheet handles their capital."
Ten minutes later, Sibil arrived at Arthur’s office.
She hadn't been invited. She had begged Arthur’s assistant to let her upstairs.
When Sibil stepped into the office, she looked forty years older. Her hair was unwashed, pulled back into a ragged clip. Her designer clothes were rumpled, her face pale, sunken, and lined with deep, un-contoured exhaustion.
She walked toward my desk, stopping five feet away, exactly where Fallon had stood at the conservatory two weeks ago.
"Sloan..." Sibil gasped, her voice dry and rasping. "Sloan... please... you have to talk to the bank... they're putting an auction sign on the Scarsdale house on Friday... I have nowhere to go..."
I looked up at her from my chair.
"The trust has been permanently dissolved, Sibil," I said, my voice measured and completely devoid of pitch variation. "The court has approved the liquidating distribution to cover the civil damages awarded from Fallon’s shell entity and your personal assets."
"I am your mother!" Sibil wept, dropping to her knees on the Persian rug, clutching her hands together in a posture of desperate supplication. "I raised you! I gave you everything!"
"You held my head back so your younger daughter could scrub chemical acid into my cheek," I said, looking down at her. "You cared more about the lighting on an HD camera than whether my face was melting off."
"I didn't know!" Sibil sobbed. "I thought it was just juice! I was trying to save Fallon's reputation!"
"That was your error," I said, standing up and pulling my coat over my shoulders. "You calculated that Fallon’s fake reputation was worth more than my real life. Now you get to pay the margin call."
I walked past her, my heels clicking against the hardwood floor.
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"Sloan! Please!" Sibil shrieked behind me, her voice echoing down the hallway. "Sloan!"
I didn't turn back. I walked straight out into the elevator lobby, leaving her weeping on the floor of my lawyer's office.