Chapter 12 - RICHARD’S BUSINESS
Bennett Development Group had been struggling for three years.
Commercial projects.
Office conversions.
A senior-living complex.
Interest rates rose.
Construction costs climbed.
One lender withdrew.
Richard personally guaranteed millions.
He was not poor.
He was illiquid.
That is how wealthy people describe panic when assets exist but cash does not.
Mark’s trust branch had been used to support two deals.
Properly?
One yes.
One questionable.
The third guarantee was false.
$1.2 million.
Mark’s signature.
Electronic notary.
The notary later admitted she never saw Mark sign.
Richard’s assistant sent the package.
The company obtained financing.
Project failed anyway.
Now lender wanted payment.
If Mark’s trust branch audit classified the guarantee unauthorized, Richard’s company carried the loss.
If valid, trust assets could be exposed.
Motive.
Then our house.
Why a house worth $1.1 million mattered to a man dealing with millions?
Because he needed collateral quickly.
A clean residential property could support bridge financing.
Our house was nearly paid off.
Mark had made extra payments for years.
Richard intended to claim it, pledge it, stabilize the company, then “fix everything later.”
Dana showed me an email.
Richard to Evelyn:
Once the funeral is over, Laura will make noise but she doesn’t understand title. We need possession first.
May you like
My skin went cold.
The funeral had been a deadline.
