Chapter 5 - The Company Behind the Company

Mercer Coastal Holdings had been created eighteen months earlier.
Marisol found the public registration easily. Celeste owned fifty-one percent. Adrian owned forty-nine.
The company had no listed employees, no public website, and the same office address as Mercer Preservation Group.
“It’s a property-holding company,” Marisol explained. “Not unusual by itself. Construction families use separate entities all the time. The question is why Adrian never mentioned it and why your credentials appear in its loan package.”
The partial answer came from Claire Mercer, Adrian’s younger sister.
Claire called Elena from her car late Tuesday night. She was thirty-one, a middle-school counselor, and the only Mercer who had followed Elena out of the cathedral before Celeste ordered her back inside.
“I should’ve called sooner,” Claire said.
“Yes.”
“I didn’t know he was going to hit you.”
“That isn’t the same as not knowing anything.”
Claire went quiet.
Months earlier, Celeste had asked Claire to obtain a copy of Elena’s professional biography from the hospital website. Claire had sent it, believing it was for a family announcement in the wedding program.
The wedding program contained no biography.
“Mom kept saying the Bellweather financing would be easier once Adrian was married to someone stable,” Claire said. “I thought she meant emotionally stable.”
Elena closed her eyes.
Claire also knew why the Mercers had created the holding company. Mercer Preservation Group had won the contract to restore the Bellweather, but the project ran over budget after structural damage was discovered. Rather than lose the project, Celeste formed Mercer Coastal Holdings with an outside investor and purchased a minority interest in the property.
“How much did they put in?” Elena asked.
“I don’t know. More than they had.”
“Why would the bank care about old files?”
Claire hesitated.
“Last year, the city questioned some of the rehabilitation expenses submitted for tax-credit approval. Mom said it was a paperwork mistake. Adrian said the project manager had used the wrong invoice codes.”
“Who was the project manager?”
“Mom.”
Elena leaned against Paige’s kitchen counter.
The company was not merely short of money. It had submitted disputed expenses on a historic-rehabilitation project and was now seeking refinancing through a second entity.
Her professional credibility had not been added to make the loan look stronger.
It had been added to make questionable numbers look reviewed.
“Claire,” Elena said, “when did Adrian ask to move the wedding?”
Claire’s answer came slowly.
“The morning after the bank gave them a June fifteenth deadline.”
Before hanging up, Claire said one more thing.
“Mom wasn’t the person who suggested using your license.”
May you like
Elena waited.
“Adrian was.”