"That's a large number for a development this size," I said.
"The number by itself isn't the problem," she replied. "The problem is that decisions appear to have been made using information the parties knew or should have known was unreliable. We need to establish what was represented, who approved it, and what happened to the proceeds."
She slid several pages toward me. They showed payments from Hartwell-related entities to consultants, then onward to accounts with names I didn't recognize. The transfers crossed state lines and passed through businesses whose actual operations appeared minimal. Patricia explained that financial investigators were tracing beneficial owners and comparing the transactions with reported consulting services. Some payments had already been linked to individuals involved in approving or defending the loans.
"Vivian's legal counsel will call those ordinary business expenses," I said.
"Then they'll be asked to show the ordinary business work that justified them."
Her tone was so dry that I nearly smiled. But the next page erased the impulse. The examination team had identified movement from HOA reserve accounts into affiliated entities, followed by international transfers. The first reliable estimate was approximately 2.3 million dollars, though the exact amount and ownership of each transfer remained under investigation. Some money appeared to be held in accounts outside the country, while other sums had been converted into assets that could be moved or concealed quickly.
"Those are residents' contributions," I said. "Roof funds, road repairs, drainage reserves."
"That's what the ledgers indicate. We're working with the appropriate agencies to trace the money and protect what's left."
I thought of Mrs. Patterson crying after the HOA meeting. She had been afraid a farmer's chickens might reduce the value of her house while the person claiming to protect that value was draining the savings meant to maintain the streets beneath it. I imagined homeowners paying assessments from retirement checks and young parents postponing holidays to meet surprise invoices. Those payments had been entrusted to a woman who insisted that she alone understood what was best for them. My anger lost its theatrical edge and became something colder.
Patricia continued reviewing the numbers. Vivian's personal guarantees covered debts supported by overstated assets, leaving a potential shortfall that could consume her remaining wealth. Some pledged assets had been transferred recently to entities with opaque ownership, raising concerns about efforts to shield them from creditors. Her mansion, the Mercedes vehicles, and the jewelry that announced her importance at every meeting were not necessarily hers to keep once lawful claims were resolved. They had become pieces in a financial structure whose foundation was being taken apart.
"You should understand something, Mr. Blackstone," Patricia said. "Your controlling interest in the bank doesn't entitle you to freeze a customer's funds whenever you're angry. Any hold must have a lawful basis and be handled by authorized personnel under applicable requirements. We need a clean record of every decision."
"Agreed," I said. "I want the bank to cooperate fully, even if the findings embarrass me."
She studied me for a moment. "That may be the most useful thing you've said today."