Chapter 5 - THE MONEY BEHIND THE SMILES
The forensic auditors delivered their preliminary report on Wednesday evening.
Loretta read it in Daniel's office.
The foundation had not merely been overspending.
It had been systematically drained.
Over eighteen months, $4.7 million had moved through consulting agreements, inflated event budgets, and investment-management fees.
Three companies received most of the payments.
One belonged to a former associate of Oliver.
Another shared a mailing address with Camille's public relations firm.
The third was registered to a holding company in Delaware.
Daniel pointed at the final page.
"There's more."
Loretta read the highlighted paragraph.
Oliver had proposed a restructuring agreement that would place the foundation's endowment under a new management entity.
He would become executive chairman.
Loretta would retain the ceremonial title of founder's daughter and honorary president.
The arrangement would give Oliver effective control of the foundation's investment decisions.
Loretta looked up.
"He intends to remove me."
Daniel nodded.
"And use the gala to announce it."
"Can he?"
"Not lawfully without the necessary approvals. But he may be counting on public pressure and board members who haven't seen the full documents."
Loretta studied the list of trustees.
Five names.
Two loyal to Oliver.
One undecided.
Two who had served alongside Margaret.
She reached for her phone.
"Then we make sure everyone sees the truth."
Daniel raised a hand.
"Carefully. We should give the evidence to the appropriate authorities and preserve the foundation's records."
Loretta nodded.
"And the gala?"
He looked at her.
"What about it?"
Loretta closed the report.
"Oliver wants a public announcement."
May you like
She stood.
"He's going to get one."
