by Ian Hamilton
The man nodded and smiled at Ava. “You are Ms. Lee, I presume. My name is Nihir Jaswa.”
“I can’t thank you enough for agreeing to introduce us to your colleague,” she said.
Jaswa smiled again, and Ava found herself admiring his perfect teeth. He was in his fifties or sixties, she thought, with a full head of shaggy white hair. His nose and chin were both long and pointed, and while the skin around his jaw was still firm, there were worry lines across his forehead and large bags under dark brown eyes. Trading diamonds, she thought, couldn’t be a stress-free business.
“I didn’t pass on to my colleague — whose name, by the way, is Ilesh Fozdar — everything that Jacob related to me. I thought I’d leave that up to you. All I told him was that one of his customers had been playing fast and loose with other people’s money.”
“Still, it was very kind of you to do that.”
Jaswa shrugged. “I hope Ilesh is helpful, but I can’t guarantee that he will be. He is among the most substantial traders in Antwerp. I know that he does due diligence on his more important customers, and I can guarantee that he would never knowingly do business with someone as unethical as your swindler,” he said. “That’s my way of advising you to tread carefully when you’re speaking to him. For example, don’t imply that he might have known what was going on and turned a blind eye to it.”
“Jacob has explained to me the ethical underpinnings of your religion, so I have some understanding of your values,” Ava said. “I will most certainly be conscious of them when I’m speaking to Mr. Fozdar.”
“Then in that case, why don’t I take you to meet him,” Jaswa said.
“His office is nearby?” Ava asked.
“He is in this building, one floor down,” he said.
“I read the company directory when I was in the lobby, and I couldn’t help noticing that a lot of companies seem to be compressed into quite a small space,” Ava said.
“Ilesh will trade two hundred million dollars in diamonds this year. I’ll do a bit less,” Jaswa said, motioning for them to exit the office. “Twenty years ago, when my father and Ilesh’s uncle managed these businesses, the sales were smaller than that but our workspace and workforce were ten times larger. Can you guess why?”
“No,” Ava said as they walked down the hall to the elevator.
Jaswa pushed the elevator button. “We had our own workshops. We bought rough diamonds and did all our own cutting and polishing. My father used to refer to it as buying in rupees and selling in dollars,” he said. “Those days are gone. Wages and the cost of living in Antwerp are so high that most of the workshops have closed. Our trade is now almost exclusively in rough diamonds, and for that all we need is minimal office space, a few staff, a phone, and a computer.”
“Where is the cutting and polishing done now?” Ava asked as the elevator arrived and they stepped into it.
“Some of it is done in China but the majority is done in India, in the city of Surat. That’s in Gujarat state, where most of the Antwerp Jain families came from originally,” Jaswa said. “We came here because Antwerp was the world centre of the diamond business and we wanted to stake our claim. Now, ironically, with so many workshops in Surat, business is shifting to India, and Mumbai has become a fierce trading competitor. I can envision a day when many of us will return to India.”
They left the elevator and entered a hallway identical to the floor above. Jaswa led them towards double wooden doors with Fozdar Trading painted on them. He knocked and then looked up at the security cameras.
“Mr. Jaswa,” a young woman said as she opened the door.
“My friends have an appointment with your father,” he said.
“Yes, he’s been expecting them,” she said. “Will you be joining them?”
“No, I’m going back to my office, but please thank him again for his courtesy,” Jaswa said.
“I’m quite certain that no thanks are necessary, but I’ll pass along your best wishes,” she said, and then turned to Ava and Jacob. “Please come with me.”
The office was larger than Jaswa’s, with ten occupied workstations as opposed to his four. Some private offices surrounded the common work area, and the woman led them to one that had its door closed. She knocked, waited a few seconds, then opened the door. Ilesh Fozdar sat behind an enormous wooden desk. He looked at them intently but didn’t rise to meet them.
“You should sit in the chairs,” his daughter said, pointing to two chairs that sat in front of the desk.
When she had left, Fozdar shifted in his chair and grimaced. “I apologize for not getting up to greet you. My back is particularly sore today, and I have difficulty standing.”
Given that he was seated, Ava could only guess at his height, but his fleshy face, broad chest, and prominent belly were evidence that he was overweight. He put two chubby hands on the desk and leaned towards them. “Nihir told me that you believe one of my customers has been stealing from you and using your money to buy diamonds from me,” he said abruptly. “I’d like to hear more.”
Fozdar’s manner was matter-of-fact, but Ava noticed that his hands were clenched and his eyes were more challenging than inquisitive.
“What Mr. Jaswa told you is essentially true, but there is a great deal that we didn’t share with him,” Ava said. “If you have no objections, we’d like to share it with you.”
“I’m listening.”
“We brought documents that detail the movement of money from Canada to a bank in Amsterdam and from there to your company,” Ava said. “You can read them whenever you wish, but I wanted you to understand that we’re here with facts and numbers, not spinning theories.”
Jacob Smits opened his briefcase and slid a file across the desk to Fozdar.
“I’ll read those when I have a chance. For now, explain to me what you think happened,” Fozdar said.
“Well, a man named Malcolm Muir —” Ava began, only to be immediately interrupted.
“I know no one by that name.”
“I believe you. It’s a puzzle we still have to solve, and with your help maybe we can,” Ava said. “But I am assuming you do know of Jasmine Yip and a company called Jewellery Circle.”
Fozdar looked at her intently. Ava noticed his eyes narrow and his lips compress. “I know them both. I did business with Jasmine’s father and his company, Jewellery Circle, for over ten years. She took over the business when he died, about six or seven years ago,” he said finally. “Are you suggesting that Jasmine was involved in this theft? Because if you are, I have to tell you I’d find that hard to believe. I’m not sure now that I want to hear what you have to say.”
“I don’t know enough about Jasmine Yip to suggest she’s a thief,” Ava said. “But what I do know — and the paperwork verifies it — is that all the stolen money ended up in a numbered bank account in Amsterdam that was registered in her name.”
Fozdar shook his head and looked down at the file. “Is that indisputable?”
“Absolutely.”
“If that’s the case, it would be irresponsible of me not to listen,” he said deliberately. “Please go ahead. I am prepared to keep an open mind.”
“Thank you,” Ava said, leaning forward to close the distance between them. She spoke slowly and without hyperbole as she connected the dots between Harvest Table Bible Chapel, the Harvest Investment Fund, the web of companies Muir had created to steal and hide the money, the investigative work done by Todd Howell, and her and Jacob’s involvement in finding the money in Amsterdam.
Fozdar tried to appear indifferent, but, as the details accumulated, his interest became more apparent. When Ava had finished, he immediately asked, “Are you convinced that your friend’s father committed suicide because of this scheme?”
“There’s no doubt, I’m afraid.”
“How horrible.”
“An
d it could be just the start. How many other lives, marriages, families will be ruined by this thievery?”
Fozdar closed his eyes. “This is very difficult, because even after everything you’ve told me, I still don’t want to believe that Jasmine would knowingly have been part of this,” he said. “But there are things you said that raise concerns.”
“What things?”
He hesitated and then said carefully, “For the past ten years or so, any business I’ve done with Jewellery Circle has been in rough diamonds. With her father, I don’t think it was ever more than a million dollars a year. Jasmine is more aggressive, but even so, until about four years ago she never spent more than two million with me. Then suddenly the business tripled, and tripled again. When I asked her about it, she told me she has contacts in China who are supporting her.”
“You didn’t question where that money was coming from in China? You didn’t suspect that she could be laundering money?”
“I thought it might be possible but I had no way of knowing for sure. And even if she was, it could have been sanctioned by a government official.”
“That last point is well taken,” Ava said. “But the fact that she went from spending two million a year with you to what we figure was about ten million this past year . . .”
“Actually, it was almost double that amount.”
(14)
It wasn’t often that Ava was caught off guard, but Fozdar had managed to do it.
She looked at Jacob, who was examining a file from his briefcase. As he ran his index finger down a row of numbers, he frowned. “According to this, the past twelve months was the most active period for money transfers from Jasmine Yip’s account in Amsterdam to Mr. Fozdar’s company,” he said to Ava. “The transfers amounted to approximately eleven million dollars, which leaves a significant discrepancy between the money she sent from Amsterdam and the twenty million Mr. Fozdar says he received from her.”
“Perhaps you have a discrepancy, but I don’t. I know we received about twenty million,” Fozdar said.
“Does that mean nine million came from banks other than the one in Amsterdam?” Ava asked.
“Yes, and it was all done legally. I can assure you that everything we do is transparent and in compliance with international banking regulations and Belgian law.”
“You misunderstood me. I wasn’t suggesting the money came from illicit sources,” Ava said quickly. “I was simply trying to confirm that banks other than the one in Amsterdam were used.”
“They were.”
“Can you tell me which ones?”
Fozdar looked uncomfortable, then finally shrugged and said, “I’m not sure that’s an appropriate thing for me to do. Jasmine’s business dealings with other banks have no bearing that I can see on your situation.”
Ava sensed that his reluctance was real and knew they had reached a turning point in their conversation. Either Fozdar was going to be completely co-operative or he would stop answering questions altogether. “Mr. Fozdar, do you think I could have a glass of water?” she asked, trying to buy herself some time.
“Of course. I’ll have my daughter bring it,” he said, relaxing slightly as he reached for the phone. “How about you, Mr. Smits? Can we get something for you as well?”
“No, I’m fine, thank you,” Jacob said, his focus still on the bank statements on his lap.
“What are you hoping to find?” Ava asked.
“I’m trying to figure out if it was possible for Jasmine Yip to make enough profit trading diamonds to account for the additional money.”
The door opened and Fozdar’s daughter appeared, holding a tray with a jug of water and three glasses. She put the tray on one side of the desk, poured three glasses of water, and asked, “Can I get anything else?”
“No, thank you. This is perfect,” Ava said, picking up a glass. She sipped and then glanced at Jacob. “Mr. Fozdar, is it possible to make a profit of nine million dollars by trading eleven million dollars in rough diamonds over a twelve-month period?”
Fozdar hesitated. Then he said, “It’s highly unlikely. When you’re dealing with rough diamonds, the profit margins are too thin to return anywhere near that kind of profit.”
“If that’s the case, then logically Ms. Yip was — as you suggested — getting money from other sources,” Jacob said.
“I have no knowledge of her other business arrangements,” Fozdar said abruptly.
Ava detected his displeasure with Jacob’s comment and knew she had to calm him down. “Mr. Fozdar, I understand that you are a man with ethical standards, and I respect that. But there is a balance to be weighed here. On the one hand, we have proof positive that money was stolen, sent to Ms. Yip’s account in Amsterdam, and used to buy diamonds. On the other, we can only conjecture where her other money comes from. The two could be linked or not, but I’ll have no way of knowing without your assistance. So, while I know I may be asking you to breach your code of conduct when it comes to managing your business, I sincerely believe there’s a case to be made for the greater good. All we want is a chance for restitution. We have no interest in blaming you or any other company for doing business with her, but we do need the truth,” Ava said. “That is why I feel compelled to ask you again if you’ll tell me which other banks she was doing business with. And — fair warning — if you answer, I’ll have other questions as well.”
Fozdar rubbed his right index finger across his upper lip. “This is making me very uncomfortable,” he said. “In all the years I’ve known the Yip family, I’ve never had reason to question their integrity.”
“I apologize, but I’m sure you understand this is an exceptional circumstance. If you’re concerned about us keeping your co-operation confidential, I’m prepared to give you our undertaking in writing,” she said.
“That isn’t what I’m thinking about,” he said with a slight wave of his hand. “You mentioned you’d have other questions. What are they?”
Ava took a deep breath. “Well, in addition to the names of the banks she used, it would be useful to have account numbers, the names attached to the accounts, any bank contact information, and the records of all the transactions you conducted with the banks,” she said. “I’d also appreciate any personal and business contact information you have for her.”
Fozdar pursed his lips, looked at Ava and Jacob, leaned forward, and said, “It might take some time to pull everything together. May I suggest you go for a walk and come back in about an hour?”
(15)
Ava and Jacob left the Fozdar Trading office without saying a word to each other. They were starting to walk in the general direction of the train station when Ava stopped in front of a coffee shop. “I feel like an espresso,” she said. “How about you?”
“Yes, that would suit me. And I still have the sandwiches in my briefcase,” Jacob said.
Ava smiled and continued into the shop. There was a small table for two in the window. Ava went to the counter and ordered two double espressos.
When she carried the coffees to the table, she saw that Jacob had set out the sandwiches. He looked up at her. “I’ve just decided that Fozdar is going to co-operate fully with us. If nothing else, he’ll want to satisfy his curiosity about what Jasmine Yip has been up to.”
“I agree. Now tell me, what do you think she has been up to?”
“I don’t have a clue, though I am quite certain she didn’t make all that money in the diamond trade,” Jacob said. “It’s more logical that she was using the diamonds to launder money.”
“Money turned into diamonds and then diamonds turned back into money.”
“Exactly. And then that money turned into something that generated enough profit to buy even more diamonds.”
“It’s either that or she had another pool of money to draw on,” Ava said.
“How are you going to approach this?” he
asked.
“You mean how are we going to approach this,” Ava said. “If I need your assistance after today, are you free to keep on working with me?”
“I have a couple of small jobs on the go, but there’s no urgency to them. Though, if I’m being honest, I’m not sure how much more I can do for you.”
“For one thing, you might ask your contacts in Amsterdam if they can access banking information in Singapore.”
“Do you think that’s where we’re heading?”
“Absolutely. A friend in one of the Canadian banks once did that for me, but he and his contacts were compromised, so I’ve been reluctant to use them,” she said. “But it was remarkable how much information they could gather through bank-to-bank communication.”
“But that still depends on Fozdar giving us the information about Jasmine Yip’s banking.”
* * *
They left the coffee shop an hour later, after devouring the sandwiches and two more coffees, and made their way back to the Diamantkwartier. Despite her confidence in front of Jacob, Ava wasn’t completely sure that Fozdar would be co-operative, but she figured it was out of her control. Reassuringly, when they reached the building and entered the security-laden lobby, they were admitted without issue.
When they reached Fozdar Trading, the door opened as soon as they knocked. “My father is waiting for you,” Fozdar’s daughter said.
They entered his office. “How was your walk?” he asked from behind his desk.
“We didn’t go far. We stopped for coffee.”
Fozdar seemed distracted. As Ava and Jacob sat down, he tapped the file on his desk. “There don’t seem to be any boundaries left in this world when it comes to business,” he said. “For example, as we looked at the business Jasmine has done with us over the past five years, I was surprised to find she’d used four different banks to send us money. The one in Amsterdam that you know about and another in Chengdu, China, were the most frequently used, but a bank in Singapore wired money to us on two occasions, and one in Calgary, Canada, sent us money once. I had forgotten about the Canadian transfer until now, because it was several years ago and the amount wasn’t substantial.”
