Chapter 6: The Secret Beneath the De la Vega Empire
The old agreement was dated twelve years earlier.
I read every line.
The document described a partnership between Victor Mendoza and Alejandro's father, Eduardo De la Vega.
At the time, the waterfront property had been a collection of abandoned warehouses, neglected industrial buildings, and contaminated land.
Nobody wanted it.
Nobody except Eduardo.
He had believed the area would eventually become one of the most valuable commercial districts in the city.
Victor had provided the initial capital.
Eduardo had provided the development expertise.
Together, they formed a private holding company.
But the final clause was unusual.
If the project failed to receive a specified level of external financing within twelve years, ownership of the property would transfer to a separate entity controlled by Victor Mendoza.
I read the clause again.
“Papa, when was this agreement signed?””
“Twelve years ago.””
“And when does the clause expire?””
My father checked the date.
“Next month.””
I looked up.
“So Victor needs the financing approved before the deadline?””
“Not necessarily. The clause is designed to activate if the financing requirement isn't met.””
I frowned.
“Then why would he want Grupo Vanguardia to approve the proposal?””
My father placed another document on the desk.
“Because the financing proposal contains a different ownership structure.””
I examined it.
The original holding company was no longer listed as the principal property owner.
Instead, a new subsidiary had been inserted.
The subsidiary was registered in the British Virgin Islands.
Its directors included two names I recognized.
Rafael Serrano.
And Victor Mendoza.
I looked at my father.
“Was this disclosed to our investment committee?””
“No.””
“Then the entire proposal is based on an incomplete ownership structure.””
“Exactly.””
I sat back.
The pieces were beginning to fit.
Victor wanted Grupo Vanguardia to provide financing.
Alejandro wanted the money to save his company.
Camila and her brother were moving information between them.
But the ownership clause created another problem.
If financing wasn't secured, Victor could take control of the land.
If financing was approved under the revised structure, the offshore subsidiary could receive the funds and control the property.
Either way, Victor stood to gain.
And my father's company would be left holding the risk.
“Why would Alejandro agree to this?”” I asked.
My father looked at the old agreement.
“Perhaps he doesn't know the entire arrangement.””
I shook my head.
“He knew about the inflated valuation. He knew Victor was giving him documents privately. He knew Camila was sending information to Northbridge.””
My father didn't argue.
“Then we need to hear his explanation under formal conditions.””
The following morning, Alejandro arrived at Grupo Vanguardia.
He came alone.
No assistant.
No lawyer.
No Camila.
He was wearing the same charcoal suit I had seen him wear at the restaurant, but his face looked drawn.
My father received him in the main conference room.
I sat beside the legal director, Margaret Collins.
Marcus Hill and two investigators occupied the opposite side of the table.
Alejandro looked at me.
“Isabel.””
I didn't respond.
My father gestured toward the chair.
“Sit down, Mr. De la Vega.””
Alejandro sat.
Margaret opened a file.
“This meeting concerns the financing proposal submitted by Desarrollos De la Vega, related-party payments, confidential information disclosure, and discrepancies in the ownership structure of the waterfront development.””
Alejandro nodded.
“I understand.””
My father placed the old agreement on the table.
“Do you recognize this document?””
Alejandro examined it.
His expression changed.
“Where did you get this?””
“Answer the question.””
He looked down.
“Yes. I've seen it before.””
“Did your father tell you about the agreement?””
“Yes.””
“Did he explain the ownership clause?””
Alejandro hesitated.
“He told me Victor had invested in the original project.””
My father leaned forward.
“That isn't what I asked.””
Alejandro exhaled.
“Yes. He told me there was a clause involving ownership if the financing requirement wasn't met.””
Margaret made a note.
“Were you aware that the current proposal includes a new offshore subsidiary?””
Alejandro looked at the document.
“I knew a restructuring had been discussed.””
“Who approved it?””
“Victor.””
“Did you approve it?””
He didn't answer immediately.
Then he nodded.
“Yes.””
I felt my stomach tighten.
My father looked at him.
“Why?””
Alejandro rubbed his forehead.
“Because the original holding company had significant liabilities. Victor said the restructuring would make the project easier to finance.””
“Did you know the subsidiary was controlled by Victor?””
“I knew he had an interest.””
“Did you disclose that to Grupo Vanguardia?””
“No.””
The room fell silent.
My father closed the folder.
“Why not?””
Alejandro looked at him.
“Because I believed the investment would benefit everyone.””
Margaret leaned forward.
“Who is everyone?””
He looked down.
“Desarrollos De la Vega. The investors. The people who have already committed money.””
“And Victor Mendoza?””
Alejandro's jaw tightened.
“He was involved.””
I finally spoke.
“Alejandro, did you know my father was being asked to finance a company whose land ownership could change depending on whether he approved the money?””
He looked at me.
“I didn't understand the entire structure.””
“You signed the proposal.””
“I trusted Victor.””
“You trusted my uncle more than you trusted the people investing billions of dollars?””
He looked away.
My father raised one hand.
“Enough. Mr. De la Vega, we are not here to discuss your marriage.””
Alejandro nodded.
But he looked at me again.
“Isabel, I want you to know I never intended to involve you in this.””
I stared at him.
“You didn't have to. You involved my father's company.””
He swallowed.
Then Margaret placed another document on the table.
“This is a record of the consulting payments made to Serrano Advisory.””
Alejandro's face changed.
“Where did you get that?””
“From our financial systems.””
“Those payments were legitimate.””
“Were they?””
“Yes.””
Margaret pointed to the dates.
“Several payments were approved before the services were completed. One was processed without the required supporting documentation.””
Alejandro shifted in his chair.
“Victor handled the arrangement.””
“Did you receive any personal benefit?””
“No.””
I remembered the bracelet.
I remembered Camila's message.
I looked at him.
“Did you pay for the bracelet?””
He closed his eyes.
“Yes.””
“Using money from Serrano Advisory?””
He opened them.
“I didn't know where the money originally came from.””
“Did you ask?””
“No.””
I nodded slowly.
“Of course you didn't.””
After the meeting, Alejandro asked to speak with me.
My father initially refused.
But I agreed to five minutes in the private corridor outside the conference room.
He stood near the glass wall, watching employees move through the lobby below.
“Isabel, I need your help.””
I almost laughed.
“Of course you do.””
“Please listen.””
“I'm listening.””
He turned toward me.
“Victor has been controlling this project for months. He told me the financing would be approved if I followed his instructions.””
“Why didn't you refuse?””
“Because the company is in trouble.””
“And that makes fraud acceptable?””
“I didn't know it was fraud.””
“You knew the valuation was misleading.””
He looked down.
“I knew there were risks.””
“Did you know Victor planned to take the land?””
“No.””
“Did you know the ownership clause was about to expire?””
He hesitated.
“Yes.””
I stared at him.
“And you still signed the proposal?””
“I thought we could secure the financing and protect the company.””
I shook my head.
“You wanted to save your company so badly that you were willing to put my father's company at risk.””
He stepped closer.
“I'm trying to fix it.””
“Then cooperate with the investigation.””
“I will.””
“Tell the truth.””
“I have.””
I studied him.
“Not all of it.””
His expression changed.
I continued.
“You still haven't explained the envelope.””
He looked toward the conference room.
“Victor gave me the original ownership documents.””
“Why?””
“He wanted me to sign an amendment.””
“What amendment?””
He swallowed.
“One that would give him control of the offshore subsidiary.””
I felt a chill.
“Did you sign it?””
“No.””
“Why not?””
“Because I realized what he was doing.””
I stared at him.
“When?””
“Last night.””
I almost couldn't believe him.
“You knew about the structure for months.””
“I didn't understand how far he intended to go.””
“And now?””
He looked at me with something resembling desperation.
“Now I want to stop him.””
I crossed my arms.
“Then why didn't you bring the documents to my father?””
“Because I thought he would reject the financing immediately.””
“Maybe he should.””
Alejandro shook his head.
“If the project collapses, hundreds of employees could lose their jobs.””
I looked at him.
“Then perhaps you should have thought about them before putting their company in the hands of a man who intended to steal its most valuable asset.””
He lowered his voice.
“Isabel, I know I hurt you. But I still love you.””
I looked at him for a long moment.
“You keep saying that.””
“Because it's true.””
“Then why did you wait until my father became useful?””
He had no answer.
I stepped away.
“Give the documents to legal counsel. That's the only help I can offer.””
At 5:30 p.m., Camila arrived at the Grupo Vanguardia headquarters.
She asked to speak to Margaret Collins.
Instead, she was brought into a secure interview room.
I was there when she entered.
She looked exhausted.
Her eyes were red.
She held a leather handbag against her chest.
“Ms. Mendoza,” she said quietly.
I didn't answer.
Margaret gestured toward the chair.
“Please sit down, Ms. Serrano.””
Camila sat.
Margaret opened a recording file.
“This interview concerns your access to confidential documents and communications with Northbridge Capital Advisory.””
Camila nodded.
“I understand.””
“Did Alejandro De la Vega instruct you to download the confidential financing page?””
She looked at me.
Then she nodded.
“Yes.””
“Did he tell you to send it to Northbridge?””
“Yes.””
“Why?””
“He said they needed to verify the revised figures before the financing committee meeting.””
Margaret made a note.
“Did you know the document was confidential?””
Camila hesitated.
“Yes.””
“Then why did you download it?””
“Because Alejandro told me it had already been approved.””
Margaret looked at her.
“Did you believe him?””
Camila lowered her eyes.
“I wanted to.””
I almost smiled at the irony.
Those were the same words I had once used about Alejandro.
Margaret continued.
“Did Victor Mendoza instruct you to send the document?””
Camila nodded.
“He contacted me through my brother.””
“Do you have proof?””
Camila opened her handbag and removed a small USB drive.
“Yes.””
She placed it on the table.
“It contains the original messages.””
Margaret didn't touch it immediately.
“What else is on the drive?””
“Payment records. Emails. And an audio recording.””
I looked at her.
“What recording?””
Camila's fingers trembled.
“A conversation between Alejandro and Victor.””
“When?””
“Three weeks ago.””
“What were they discussing?””
She swallowed.
“The financing proposal.””
Margaret looked toward me.
I felt my pulse quicken.
“Play it,” I said.
Margaret connected the drive to a secure computer.
The audio began with background noise.
A door closing.
A chair moving.
Then Alejandro's voice.
“Once Mendoza approves the financing, the land transfer can be completed.””
Victor answered.
“And if he refuses?””
Alejandro paused.
“Then we activate the original clause.””
My blood ran cold.
Victor laughed quietly.
“And your wife?””
Alejandro's voice became irritated.
“She isn't my wife anymore.””
“Not legally, perhaps. But she still has influence over her father.””
There was a pause.
Then Alejandro said:
“She won't interfere. She knows nothing about the arrangement.””
Victor replied:
“Good. Keep her away from the documents.””
I stared at the screen.
The recording continued.
Victor asked:
“And the bracelet?””
Alejandro laughed.
“Camila wanted something expensive. I used the consulting payment. Nobody will connect it to the land.””
Then Victor said something that made the room feel suddenly smaller.
“Make sure Isabel doesn't discover what her mother signed.””
I froze.
My mother.
My mother had died when I was seventeen.
She had never been involved in Grupo Vanguardia's business operations.
Or so I had always believed.
I looked at my father.
He had gone completely still.
The recording continued.
Alejandro asked:
“What if she finds the old papers?””
Victor answered:
“Then we'll remind her that her mother already gave up her claim.””
The audio stopped.
Nobody spoke.
I turned toward my father.
“Papa?””
He didn't look at me.
Instead, he stared at the USB drive.
“Play that last part again.””
Margaret replayed it.
Her mother already gave up her claim.
I stood slowly.
“What claim?””
My father finally looked at me.
His eyes were filled with something I had never seen before.
Fear.
“Isabel,” he said quietly, “there is something about your mother's inheritance that I should have told you years ago.””
I felt my throat tighten.
“What does my mother have to do with the De la Vega land?””
My father took a long breath.
Then he opened a locked drawer and removed an old cream-colored envelope.
On the front, in my mother's handwriting, were four words.
*For Isabel. When she's ready.*
He placed it on the table.
May you like
And beneath my mother's handwriting was a date.
The day she died.
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