Blind Trust: A Financial Crime Thriller (Rector Street Book 3) by John Nuckel

Author:John Nuckel [Nuckel, John]
Language: eng
Format: epub
Published: 2019-06-30T22:00:00+00:00

Frank took a deep breath like he was getting ready to go down a steep ski slope, knowing that there would be no turning back or stopping once he started. “He wasn’t a broker. He was what they call a fixer, a go-between for countries that American businesses are not supposed to work with. I think he was of Saudi descent, but he was a Brit through and through. Hakim Marcos, went by the name Hank or Henry Marsh. London School of Economics, Harvard Business School. His background was solid. His back story was that he had ties to Prince Alwaleed, you know the guy who had that big stake in Citibank for years.”

He took a sip of his water.

“Brogan got the case from one of his Justice connections. They were investigating New York brokerage firms doing business with banned countries on the State Department’s list. This particular case was with Libya. That’s probably where that part of the rumor came from. I’d tell you the brokerage firms, but it was just about all of them. There was so much fucking money involved, crazy money. I’m trying to remember; I know there was a truckload of cash confiscated out in Long Island City. I kid you not. A truckload. I saw the picture. I’m telling you it’s like drug cartel money. Somehow this connected back to Marsh. A truckload of cash attracts the fed’s attention. Brogan came to me with the idea.”

Frank breathed deep then continued.

“The setup was in place before he brought me in on it, which was his normal way of doing things. Fucking Brogan. There, I said it again. You’ll get used to it. There was a hedge fund that was going to go down for massive insider trading, front running, all the typical shit. The feds busted them, and to avoid going to jail the principals in the fund agreed to be the front for the sting. I was brought in to act as the portfolio manager for the fund. Brogan got me a meeting with Marsh. I had to put together a strategy to pitch him. It wasn’t hard; I remember it being some kind of covered call strategy. That was the thing. It’s an unspoken arrangement with these fixers; the portfolio or trading strategy wasn’t the point. It was all money laundering, creating layers to filter the massive amounts of cash these corrupt leaders amassed. As long as money was placed in a legitimate account, trades were made then closed, the money was washed. What better way to have your money turn squeaky clean than withdrawing from a major brokerage clearing company? Of course, it’s great for the brokerage firm also. Open an account, make a few trades for hefty commissions, and slowly watch the account get drained out, charging fees all the way.

“I met Marsh for lunch at the National, a restaurant on Fiftieth and Lex, I believe. Maybe it was Fifty-First. Anyway, he was an impressive guy. Well bred. Nice clothes. He was well put together, but I could tell he didn’t know shit about the markets.

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