Chapter 4 - The House Had A Hidden Credit Line
After the funeral, the family moved to Mr. Hayes’s office.
Emma stayed with Sarah in a quiet conference room while the adults
reviewed records nearby.
The house was worth approximately $1.4 million.
Six months earlier, someone had opened a $320,000 home-equity line of
credit.
Michael had discovered it only after a quarterly statement arrived.
He never approved the loan.
The bank file included his signature.
It also included a notarized acknowledgment.
The notary was not Victoria.
It was Derek.
Sarah stared through the glass wall at Victoria’s brother.
Derek was a licensed real-estate broker.
He also held an active notary commission.
When questioned, Derek said Michael signed the document at home.
Michael’s nurse said that was impossible.
On the date of the alleged signing, Michael spent the entire day
receiving chemotherapy at Northwestern Memorial.
Hospital entry records supported her.
Derek changed his explanation.
Maybe the date was wrong.
Maybe paperwork was completed later.
Mr. Hayes did not accuse him of forgery.
He preserved the records and contacted the lender’s fraud department.
Then the money trail appeared.
Of the $320,000 credit line, $180,000 had been drawn.
$95,000 went to a company called VDC Holdings.
The initials meant Victoria Diane Carter.
Victoria said it was repayment for money she had spent supporting
Michael during treatment.
There were no invoices.
Another $60,000 went to Derek’s real-estate business.
Derek called it a loan.
There was no loan agreement.
The remaining $25,000 went toward household expenses.
That was the problem with the scheme.
Not every dollar looked stolen.
May you like
Some payments were legitimate.
That made the rest easier to hide.
Related Stories
