Koala Novels

Chapter 5

Past Tense

Iris ran.

The day after her arraignment date, she didn't appear in court.

Whitlock told me on a call. I was in the produce aisle at the Trader Joe's on Greenwich.

"Phone disconnected. Apartment is cleared out. Customs and TSA flagged her ID — none of the airports or the Amtrak counters have her face on a manifest. But there are other ways."

"She has a passport."

"State Department's been notified. If she left before the BOLO went out, the timing window doesn't favor an interception."

I put a head of cabbage in the basket.

"Then we wait."

"Ms. Hartwell. If she's overseas, an extradition request is a multi-year process."

"She won't go far."

"Why."

"She has no money," I said. "The Centurion is killed. Her personal accounts are frozen pending the investigation. She can't run for long on whoever else's dime."

Whitlock paused. "You know her."

"Eight years."

On day four, Iris reappeared.

Not because the police found her. Because she posted to her own Instagram.

Geotag: Miami. The photo: an airport duty-free interior. She was holding a brand-new bag. Caption: "There's a version of this story you haven't been told."

The comments rolled in. Hundreds of them — angry, sympathetic, gawking. The whole spectrum.

Hannah screenshotted the post and sent it to me. She's running a PR play?

I zoomed in on the photo. The bag — limited-edition, retail eight thousand dollars and change, secondary market more. With her accounts frozen, where did that come from?

I enlarged it again. The price tag was still hanging.

She wasn't shopping. She was staging.

"Whitlock." I called him from the parking lot. "Find out where she's staying in Miami. She has to be crashing with someone."

By day six, he had it.

She was at a condo in Brickell, registered to one Peter Vance.

Peter Vance — Reyes Industrial AI's former COO. Ousted six months ago for expense-account fraud. He and Luca had hated each other on the way out.

Whitlock said, "After Peter left Reyes, he's been looking for a way to come back at Luca. Iris turning up at his door right now isn't just a place to crash."

I put the cabbage in the fridge.

"What's she trying to do with him."

"Not entirely clear yet. But Peter still has copies of some of the company's earliest financial work-papers. If Iris hands those to a journalist, the company gets a problem."

A problem for the company.

I now owned ninety percent of the company.

A problem for the company was a problem for me.

I closed the fridge door.

"Whitlock. Set up Marcus Sands. Tomorrow morning."

Marcus Sands chose a midtown members' club for the meeting.

He looked older than he sounded on the phone. Mid-sixties, hair gone steel, eyes still working at the speed of a junior associate.

"Ms. Hartwell. You're younger than I expected."

"Mr. Sands. Let's get to it."

He smiled and slid a folder across the linen. "I've heard about Peter Vance. He has originals of some of the early Reyes work-papers. If those leak, the post-IPO compliance position gets messy."

"What's the issue."

"Pre–Series B, the company had a related-party transaction that wasn't fully disclosed. The dollars were small — eighty thousand — but the procedure wasn't clean. If somebody dropped it on a journalist, the SEC might open an inquiry."

"Does Luca know."

"He was the one who did the transaction. The company was tight on cash; he routed a personal loan through an entity he controlled and the books didn't break it out as related-party. It wasn't an outright violation, but it wasn't a clean disclosure either."

Eighty thousand dollars.

A rounding error against a three-hundred-million market cap, but enough to be a wick on a fuse.

"What's your move," I said.

He looked at me. "Ms. Hartwell. You're the largest shareholder. You decide."

I thought about it.

"Have the company run a voluntary compliance review. Restate every related-party transaction from before the Series B. Whatever wasn't disclosed properly, disclose now. File an 8-K. Submit the self-disclosure to the SEC."

"That's putting the cards on the table yourself."

"Once they're on the table, nobody can flip them. Whatever Peter Vance has loses its punch. Iris loses her leverage."

Marcus picked up his teacup. "Ms. Hartwell. That's exactly your father's instinct. Close the back door first, cut the side door second."

"Mr. Sands. One more thing."

"Go ahead."

"The compliance review. Luca runs it. He signs the report."

He raised his eyebrows. "You're not handling it yourself."

"I'm an investor," I said. "Operations are the CEO's job. He owns the responsibility he created. I don't carry it for him."

Marcus put the cup down and picked up his pen. "Done. I'll set it in motion today."

I stepped out of the club into the sun.

A new message on my phone.

From Luca.

Naomi. Marcus mentioned the compliance review. Was that you.

I wrote back one word.

Yes.

It took him a long time to answer.

Thank you.

I didn't reply.

I dropped the phone in my coat pocket and got a cab uptown to the office.

The compliance review took three weeks.

Luca and the finance team walked every early transaction line by line. The eighty-thousand-dollar related-party item was rebooked, broken out, restated, and filed to the SEC.

The day the self-disclosure dropped, Peter Vance posted a Substack essay. "The Quiet Story of Reyes Industrial AI's Books."

He wrote up the eighty thousand like it was a buried scandal.

He didn't know the company's voluntary 8-K had already cleared the SEC two days earlier.

The SEC's response was four words.

Filed. No action.

Peter's essay landed like a misfired round. Within hours, commenters were posting the timestamp on the company filing right under his article.

The company already self-disclosed two days ago. This is a stale story.

Wasn't Peter pushed out for expense fraud? This is just a personal grudge dressed up as a leak.

He took the post down.

That same evening, Iris posted a black square on her Instagram. No caption.

The next day, the police picked her up at Peter Vance's condo in Miami.

Peter wasn't there. Iris was. They came through the door while she was packing a duffel. Spread across the kitchen island were photocopies of early Reyes Industrial AI shareholder documents, with her handwriting in the margins.

Whitlock said: "Whatever she planned to do with those, we don't know. But unauthorized retention and annotation of confidential corporate documents is another count."

When they brought her back to New York, she stopped going silent.

In the interview room she gave them everything. How she'd photographed the trust documents in the dorm. How she'd gamed Luca's gratitude. How, during her years in Paris, she'd kept the WhatsApp thread open and slowly cultivated his sense of debt to her.

She also confessed something I didn't know.

The MSA Luca had handed me at the anniversary dinner — Iris had drafted it. The property division was hers. The seven-hundred-fifty-thousand-dollar number was hers.

Whitlock told me on the phone. I was on my balcony, watering the rose.

I'd put a Pierre de Ronsard cutting in a terracotta pot at the new place. Same variety as the one on the penthouse balcony.

"Ms. Hartwell. No reaction at all."

I set the watering can down. "She wrote the divorce agreement and he just signed it."

"He told the DA he glanced through it once and signed."

"Same as me."

Whitlock didn't say anything to that.

I moved the rose pot to a sunnier corner.

"Mr. Whitlock. Where is the Calloway case."

"Indictment returned. Plea negotiations starting this week."

"Then let it run its course."

"And the equity. You really aren't stepping into management."

I thought.

"Set up a meeting."

"With."

"Luca."

The last formal meeting Luca and I had was in a conference room at Reyes Industrial AI.

He sat across the long glass table. Thinner. He had switched to a dark gray shirt buttoned to the throat.

It was just the three of us in the room. Him, me, and Whitlock.

"Naomi —"

"Ms. Hartwell," Whitlock corrected.

Luca pressed his lips together. "Ms. Hartwell."

I looked at him. Hearing it come out of his mouth was clumsy. In five years of marriage he had never called me anything tender; now he was finally being polite.

"I have two items today." I opened the folder in front of me. "First. Of the ninety percent equity, I will retain fifty-one percent for board control. The remaining thirty-nine percent I will divest at fair market valuation to the existing shareholder base and to a new strategic investor. The proceeds will seed a foundation. The Margaret Shen Fund for First-Generation Women Founders. Sandstone is co-anchoring."

He hadn't expected that. He looked at Whitlock and back at me.

"Why."

"That money was my mother's. She taught Title-I in Queens for twenty-two years."

He went quiet.

"Second." I turned the page. "I will sit on the board as the controlling shareholder. I will not interfere with day-to-day operations. You stay on as CEO."

"Naomi —"

"Ms. Hartwell," Whitlock said again.

Luca took a long breath. "Ms. Hartwell. Don't you hate me."

I closed the folder.

"Whether I hate you isn't the point," I said. "What I care about is that this money doesn't go to waste."

He lowered his head.

I stood. Whitlock began gathering his materials.

"Wait," Luca said.

He took something from his pocket and pushed it across the table.

A platinum band. Our wedding ring. I'd left it on the dresser the day I moved out.

"Yours," he said.

I picked it up. Plain platinum. The inside engraved L & N — 9.14. He'd bought it on a month's salary the year we got married.

I set it back down on the table.

"Don't need it."

"Naomi." This time Whitlock didn't correct him. Because Luca's voice had broken. "If I had known back then that the four-and-a-half million was you —"

"Then what?" I looked at him. "You would have loved me?"

He opened his mouth.

"If the answer is yes," I said, "then it's worth even less."

I turned and walked out of the conference room.

The hallway was long. Through the windows on the far end was the Manhattan skyline.

My phone buzzed. Hannah, with a selfie. Caption: Madame Anchor Investor — buy me hot pot tonight?

I typed one word back. Done.

I tucked the phone away and stepped into the elevator.

Right before the doors closed, I caught sight of Luca coming out of the conference room. He was at the far end of the corridor.

The ring was clenched in his hand. He was standing there, not moving.

The doors slid shut.

I pressed the lobby button.

Six months later.

Reyes Industrial AI closed a strategic round. The market cap moved from three hundred million to five hundred and twenty. I was on the dais at the signing ceremony, in my capacity as controlling shareholder.

The flashbulbs were on me. Reporters were calling my name from the floor.

"Ms. Hartwell, as the de-facto principal at Reyes Industrial AI —"

I leaned into the mic. "I'm an investor. The operator of this business is Mr. Reyes and his team."

After the signing, Marcus Sands came over with a glass of champagne.

"Ms. Hartwell. If your father could see this room, he'd be very pleased."

I drank.

"He'd say I went too soft."

Marcus laughed and walked off.

The crowd thinned out. In the room set aside for the principals, I ran into Luca.

He was in a new charcoal suit. He'd put on a little weight in the six months. Color back in his face. When he saw me, his stride hesitated for a beat, then he came over.

"Naomi."

He still called me Naomi. After six months he hadn't been able to drop it.

"Strong round," I said.

"The team worked for it."

We stood at the window, two steps apart.

"Iris's case closed," he said. "Three years."

"I know."

He looked out at the skyline. "I went to see her once."

I turned my head.

"She asked me to tell you something."

"What."

"She said — I'm sorry. But if I had it to do over, I might still make the same call."

I didn't say anything.

Luca's mouth made a tight half-smile. "I don't understand her."

"She loved you," I said. "Loving somebody can make a person do absurd things."

"And you?" He turned back to me. "Did you ever love me?"

The lights of the city were starting to come on.

"I did," I said. "Past tense."

His throat moved. Something in his eyes changed but he kept it from going anywhere.

"Naomi. I want to —"

"Luca." I cut him off. "What we have now is one thing. Shareholder and CEO. Don't think about anything else."

He stayed where he was, like he'd been pinned.

I picked up my coat and walked out of the room.

Hannah was at the curb in her old Volvo.

I pulled the door shut and got in. She glanced over at me.

"You been crying?"

I touched my cheek.

Dry.

"No."

"All right then. Let's go. Hot pot. I'm calling the spicy half. You can have the plain."

I clicked the seatbelt.

"Drive."

The car pulled into the evening traffic. In the rearview, the Reyes Industrial AI building got smaller and the lights got smaller, and I didn't turn around.

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