Whistleblower

Chapter 1

One

On the Tuesday before Christmas, the board members of the Walker Group gathered for their final meeting of the year. As chairman, Peter Walker sat at the head of the table in the boardroom on the top floor of the group’s head office on East Terrace.

Seventy-year old Peter Walker, with thirty percent of the group’s shares, was the majority shareholder. He’d started the company in his early twenties, building sheds and warehouses, and had grown it into one of the most successful property developers in the country.

The board usually followed his advice on which projects to pursue, given his track record, and the fact that his connections still held enough shares to represent the majority in any vote, especially when his ex-wives followed their usual practice and voted with him.

To Peter’s right sat Mario Imbroglio. Mario had a twenty percent holding in the group, acquired as part of the finance package he had brought to the table when the group was facing insolvency at the height of the global financial crisis, when the banks had stopped lending.

Next to Mario sat Warren Hunter, who owned a fifteen percent interest. Warren had been with the company from the start as its accountant. He’d found ways to finance Peter’s dreams and had been rewarded with a significant stake in the company.

Opposite Mario, with his back to the window that opened on to a vista of the hills that stood on the eastern rim of the city, sat Dustin Walker, Peter’s grandson. Twenty-five year old Dustin had inherited a ten percent interest in the group following his father’s death in a skiing accident the previous year. Dustin did what his grandfather told him to do when they met for lunch before each board meeting started.

Next to Dustin sat Monica Webb and Rachel Foley, Peter’s first two wives, who held twenty-five percent of the group’s shares between them, thanks to their divorce settlements.

Peter shuffled the papers in front of him and took off his glasses, before placing them on the table. He looked across the table at his ex-wives. ‘I’ve decided to retire.’

‘As chairman?’ said Monica.

‘No, Monica. I mean retire as in stop work. I’ve been doing this for almost fifty years. I want to enjoy myself for a bit before it’s too late.’

‘You’re not thinking of asking Dustin to take over the business, are you? He’s only a boy,’ said Rachel.

‘Dustin and I have had a long chat. He’s not ready to take on that sort of responsibility.’ Peter looked down at his hands. ‘Things would be different if James was still alive. I’d planned on handing things over to him when I was ready to retire but, well, you know why that won’t be happening. So, I’ve had to make other arrangements.’

‘What other arrangements?’ said Rachel.

‘I’m selling to Mario.’

Peter watched the color drain from the faces of Monica and Rachel as they realised the impact of what he had said. He enjoyed witnessing their consternation bubble to the surface and repaint their faces with the red of anger. He hoped Mario would screw them like the bastard had screwed him. ‘We wouldn’t be here if it wasn’t for Mario’s intervention when the banks wouldn’t help us. I’ve given him first option, and he’s made an offer I’m prepared to accept.’

‘That would give Mario fifty percent,’ said Monica.

‘Sixty, actually,’ said Dustin.

His grandmother and her successor turned to face him.

‘You don’t have to sell just because your grandfather tells you to,’ said Monica. ‘I don’t think your father would be pleased with that decision.’

‘My father’s not here, Grandma, and there are other things I can do with the money.’

‘When is this happening?’ said Monica.

‘As we speak. The papers were signed yesterday. I’d like to congratulate Mario on becoming the chairman of the Walker Group.’ Peter stood and offered his seat to Mario.

‘No need to be that formal, Peter, but thank you anyway.’ Mario faced Monica and Rachel. ‘I’d be happy to make you the same offer I made Peter and Dustin.’

‘What about you, Warren?’ said Monica.

‘I’ve accepted Mario’s offer,’ said Warren, without looking up.

‘And, what is your offer, Mario?’ said Rachel.

Mario opened the folder on the table in front of him and slid a sheet of paper across the table to her, and then slid one to Monica. ‘I think it would be best if you signed before you leave. That offer will not be on the table after today.’

Mario Imbroglio moved into what had been Peter Walker’s office during the first week of January. He’d been a board member of the Walker Group for six years, ever since the opportunity to insert himself into the business had presented itself during the global financial crisis, when he’d introduced himself to James Walker after receiving a tip-off that the group was in financial trouble.

The big banks had withdrawn from the financial facility backing one of Walker’s multi-million dollar projects when the group’s cash flow had suffered a sharp downturn. Mario had also been aware that James’ father, who controlled the group, had been living beyond his means for several years. The man’s ego was insufferable but Mario had been trained to manipulate the egos of powerful men.

After constructing a financial package with his backers, who were keen to find legitimate businesses for their money laundering purposes, Mario had persuaded James Walker to introduce him to his father as the group’s saviour, as the one who could pull them back from the brink of bankruptcy. His price had been a twenty percent stake in the business.

The old man had called him every name under the sun. He’d even threatened to disinherit James for bringing someone like Mario into the boardroom. But, in the end, he’d signed. His ego couldn’t face the prospect of bankruptcy and the exposure of his personal failings as a businessman.

Mario had joined the board and studied the way Peter Walker did things. He didn’t like the old man but he admired his way of doing business. Walker seemed to be able to create money out of thin air, provided he had the backing of someone’s money to finance his dreams. Mario was particularly amused when he learnt that one strategy the Walker Group used was to build office towers for gold-plated government tenants, sign contracts with the tenants to clean their offices, and then sell the buildings to superannuation funds, who liked the regular income government tenants provided. The group would then build another office tower in another city and repeat the process.

Over the years, Mario had developed a successful working relationship with James Walker, who had been slated to take over the business when Peter retired. But the Walker world had changed when James met with an accident during a skiing trip to Austria. The old man hadn’t been the same after his son’s death. He’d lost interest and within a year had offered the business to Mario and his backers.

He’d told Mario he didn’t have the time or patience to school Dustin, so that he could take over the business, and confided that it was probably just as well, since it was always the third generation, the grandchildren, that squandered a family’s fortune. Mario had reflected on that comment in light of what he knew, and concluded that Peter Walker was blind to his own failings and the cost of his extravagant lifestyle.

Mario’s backers were delighted. They liked the diversity of the group’s interests, which included ownership of two shopping malls, that would provide them with numerous opportunities for laundering their black market money.

By the time Mario had taken control of the group, several of his lieutenants, including Trevor Hunter, were already holding positions of influence within the group. He knew he’d have to keep the core group of executives in the property development division in place, the people who knew how to turn Peter Walker’s dreams into reality, but there was plenty of scope for expanding into operations that Peter Walker would never have considered, not even in his wildest dreams.

Peter Walker’s last useful role, prior to his retirement, had been to introduce Mario to his friend Richard Nelson, the Minister for Recreation and Sport. Nelson was another man with a big ego, which Mario planned to massage during negotiations to build and operate the city’s second casino.

Mario looked at the final plans for Long Street on the desk in front of him, and decided it was time to start working on the Minister.