Chapter 7 - THE INDICTMENT
Two days later, the storm reached its legal zenith.
At eight o'clock on a brisk Friday morning, federal agents from the Securities and Exchange Commission, accompanied by officers from the FBI’s White Collar Crime Division, executed a search warrant at Daniel Hale’s private residence in Lincoln Park.
The images flooded national news broadcasts within minutes:
FORMER HALE MERIDIAN CEO DANIEL HALE ARRESTED ON FEDERAL WIRE FRAUD AND SECURITIES CHARGES.
I watched the live broadcast from the glass conference room at Hale Tower, surrounded by my newly appointed executive team.
On the screen, Daniel was led out of his brownstone in handcuffs, wearing a plain gray sweatshirt, his head bowed low to avoid the flashing cameras of fifty reporters.
Behind him, Margaret was seen screaming at federal agents on the front porch before her lawyer pulled her back inside the house.
"The federal prosecutor just released the formal indictment," Marcus Chen reported, laying a printed document before me. "Eleven counts of wire fraud, three counts of falsifying corporate ledgers, and one count of aggravated identity theft related to the forged proxy signatures."
"What is the recommended sentencing guideline?" asked Howard Vance, whom I had retained as senior legal advisor due to his complete cooperation during the transition.
"With his lack of prior criminal record, he's looking at seven to ten years in a federal penitentiary," Marcus answered. "And the court has already ordered an immediate freeze on all personal bank accounts connected to the Hale family trust."
I looked at the television screen one last time before pressing the remote button to turn it off.
"How is the restructuring plan coming along, Howard?" I asked, turning back to the table.
Howard smiled warmly, pulling out a thick binder stamped with the new company logo.
"The market reaction to your appointment as Chairwoman has been overwhelmingly positive, Ms. Morgan," Howard reported. "Stock prices rebounded twenty-two percent yesterday. We've successfully renegotiated the supply contracts, and the employee union just ratified the new three-year labor agreement."
"Good," I nodded. "I want a press release issued by noon. We are allocating five million dollars from the restructured reserves to establish an employee hardship and pension protection fund."
May you like
The board members around the table smiled and nodded in unanimous approval.
For three years, this company had been run by fear, smoke, and mirrors. Now, for the first time in its history, it was going to be run on absolute transparency and honor.
