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They Forced Me Out Then Begged Me Back
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00:00:00Soy Ethan Reed.
00:00:02He estado con Kelvin Industries por ocho años,
00:00:04asegurando la mitad de la compañía de crédito.
00:00:06Llego año, me gané un bono $200,000 año.
00:00:16¿Esto año?
00:00:18$2,000.
00:00:20Pensaba que tenía que ser un error de sistema, así que fui a financiar.
00:00:23Eso es, eso es todo lo que tienes.
00:00:25Si hay problema, tomo lo con la gestión.
00:00:32No.
00:00:33No.
00:00:33No.
00:00:33I just started clearing out my desk.
00:00:35You're really leaving?
00:00:37Screw this.
00:00:38I quit.
00:00:40I wrapped up my resignation cleanly.
00:00:43Not one executive showed up.
00:00:45Three days later, when the bank came knocking for its money,
00:00:48Chairman Marcus finally remembered to call me.
00:00:51Ethan, when did you quit?
00:00:53Why didn't anyone tell us?
00:00:55It started the day my bonus came in.
00:00:57Last year, I got $200,000.
00:01:00I earned every dollar by pulling Kelvin through three cash flow crisis.
00:01:06When I joined eight years ago, Kelvin had just two floors of office space.
00:01:10Now it fills the whole building and makes nearly $300 million a year.
00:01:14I won't take all the credit.
00:01:15But half of Kelvin's bank financing?
00:01:18I brought it in.
00:01:26So, Ethan, how'd you do?
00:01:28You got $200,000 last year.
00:01:29Must be even more this year, right?
00:01:31Not bad.
00:01:32I got $10,000.
00:01:33Think about a ski trip.
00:01:34You?
00:01:34I had a pretty good year.
00:01:35$30,000.
00:01:35Might finally upgrade my car.
00:01:37A neppy hire who'd been here six months got $10,000.
00:01:40I got two.
00:01:42Less than a new hire.
00:01:56Can you check this for me?
00:01:59$2,000.
00:02:00It's correct.
00:02:03Who set my bonus?
00:02:07I'm Ethan Reed.
00:02:08I've been with Kelvin Industries for eight years, securing half the company's credit lines.
00:02:13Last year, I got a $200,000 year-end bonus.
00:02:23This year?
00:02:25$2,000?
00:02:27I thought it had to be a system error, so I went to finance.
00:02:30That's right.
00:02:30That's all you're getting.
00:02:32Got a problem?
00:02:33Take it up with management.
00:02:39I didn't.
00:02:40I just started clearing out my desk.
00:02:42You're really leaving?
00:02:44Screw this.
00:02:45I quit.
00:02:47I wrapped up my resignation cleanly.
00:02:50Not one executive showed up.
00:02:52Three days later, when the bank came knocking for its money,
00:02:55Chapman Marcus finally remembered to call me.
00:02:58Ethan, when did you quit?
00:03:00Why didn't anyone tell us?
00:03:02It started the day my bonus came in.
00:03:04Last year, I got $200,000.
00:03:07I earned every dollar by pulling Kelvin through three cash flow crises.
00:03:13When I joined eight years ago, Kelvin had just two floors of office space.
00:03:17Now it fills the whole building and makes nearly $300 million a year.
00:03:21I won't take all the credit.
00:03:22But half of Kelvin's bank financing, I brought it in.
00:03:33So, Ethan, how'd you do?
00:03:35You got $200,000 last year.
00:03:36Must be even more this year, right?
00:03:38Not bad.
00:03:39I got $10,000.
00:03:40Think about a ski trip.
00:03:41You?
00:03:41I had a pretty good year.
00:03:42$30,000.
00:03:42Might finally upgrade my car.
00:03:44A neppy hire who'd been here six months got $10,000.
00:03:47I got two.
00:03:49Less than a new hire.
00:04:03Can you check this for me?
00:04:06$2,000.
00:04:07It's correct.
00:04:10Who set my bonus?
00:04:14Ethan, what did finance say?
00:04:17The number's right.
00:04:19How much?
00:04:20$2,000.
00:04:22The bonus sheet was confidential, but nothing stays secret here.
00:04:26Sarah got $40,000.
00:04:27Victor's assistant got $50,000.
00:04:30Victor Klein, the finance VP brought in just three months ago, got $300,000.
00:04:35I led treasury and saved the company over $10 million in financing costs.
00:04:39I got two grand.
00:04:40That's not a bonus.
00:04:42They're pushing you out.
00:04:45Or they think I won't leave.
00:04:49But four loans still haven't closed, and there's a $70 million bond due next month.
00:04:52The whole company is counting on the money you lined up.
00:04:55I know.
00:04:56If you really leave, who's taking over?
00:04:59I didn't answer.
00:05:01I was staring at a file called the Syndicated Credit Special Covenants.
00:05:05Only three people knew what it really meant.
00:05:08It wasn't just one loan.
00:05:09It tied six banks together.
00:05:11All six banks could reassess Kelvin's credit lines.
00:05:14The whole company's cash flow would be hit.
00:05:17The funny part?
00:05:18I was the only one of the three who actually understood it.
00:05:27That email told me everything.
00:05:28The $2,000 wasn't a mistake.
00:05:30They wanted me out.
00:05:32I closed the email, shut down my computer, and pulled an empty box from the drawer.
00:05:37Ethan, you're really leaving?
00:05:41Ethan, what did finance say?
00:05:45The number's right.
00:05:47How much?
00:05:48$2,000.
00:05:50The bonus sheet was confidential, but nothing stays secret here.
00:05:54Sarah got $40,000.
00:05:56Victor's assistant got $50,000.
00:05:58Victor Klein, the finance VP brought in just three months ago, got $300,000.
00:06:03I led treasury and saved the company over $10 million in financing costs.
00:06:07I got $2,000.
00:06:09That's not a bonus.
00:06:10They're pushing you out.
00:06:13Or they think I won't leave.
00:06:17But four loans still haven't closed, and there's a $70 million bond due next month.
00:06:21The whole company is counting on the money you lined up.
00:06:23I know.
00:06:24If you really leave, who's taking over?
00:06:28I didn't answer.
00:06:29I was staring at a file called the Syndicated Credit Special Covenants.
00:06:34Only three people knew what it really meant.
00:06:36It wasn't just one loan.
00:06:38It tied six banks together.
00:06:40All six banks could reassess Kelvin's credit lines.
00:06:42The whole company's cash flow would be hit.
00:06:45The funny part?
00:06:47I was the only one of the three who actually understood it.
00:06:55That email told me everything.
00:06:57The $2,000 wasn't a mistake.
00:06:59They wanted me out.
00:07:00I closed the email, shut down my computer, and pulled an empty box from the drawer.
00:07:05Ethan, you're really leaving?
00:07:11Stay, and wait for another humiliating email.
00:07:17Talk to Marcus first.
00:07:18You've given this place eight years.
00:07:20Eight years is enough.
00:07:21I'm not wasting a ninth.
00:07:26Wait, what about those loans?
00:07:28Can they still close without you?
00:07:30They've got Victor.
00:07:31He doesn't even understand the credit terms.
00:07:33That's Marcus' problem.
00:07:38Ethan, are you throwing a tantrum?
00:07:40The company asked you to prepare a handover.
00:07:42No one fired you.
00:07:43Right.
00:07:44So I'm resigning.
00:07:48Victor is busy.
00:07:49You can't just walk out whenever you want.
00:07:51I need his permission to resign.
00:07:54You're in charge of Treasury.
00:07:56You can't just walk away.
00:07:57And Victor wants these three documents signed today.
00:07:59I was listed as the responsible party.
00:08:01He was listed as the project lead.
00:08:03He got the credit.
00:08:04I took the liability.
00:08:05Victor had pulled this trick before.
00:08:07Whoever's responsible signs it.
00:08:09You've been handling these projects all along.
00:08:11The email was clear.
00:08:12Treasury will be downsizing next year.
00:08:14Nothing's been officially changed yet.
00:08:16My bonus has.
00:08:22Victor got a $300,000 bonus.
00:08:25Let him sign it.
00:08:34Ethan, we're all adults here.
00:08:35Don't act on impulse.
00:08:40The company has been fair to you.
00:08:42$2,000 for a year-end bonus?
00:08:44Very generous.
00:08:45A bonus is just part of your pay.
00:08:46My salary hasn't gone up in three years.
00:08:50The company's had cash flow problems for the past two years.
00:08:53Victor's bonus is $155,000 mine.
00:08:59Do you have to make things ugly?
00:09:00I'm resigning by the book.
00:09:02How is that making things ugly?
00:09:04Critical positions require one month notice.
00:09:06Fine.
00:09:07Then just keep working as usual for now.
00:09:10I've got 27 days of PTO left.
00:09:12I'll finish the handoff today,
00:09:14start my leave tomorrow,
00:09:15and be gone when the notice period ends.
00:09:16In eight years, I barely took any time off.
00:09:19Even when my son had surgery,
00:09:20I only took two days.
00:09:24I'll have to run this by management.
00:09:26Go ahead.
00:09:32I followed every step by the book.
00:09:34I wasn't giving them a single mistake to use against me.
00:09:39At two that afternoon,
00:09:41my leave was approved.
00:09:42Not by Marcus or Victor.
00:09:44The system routed it to the HR director,
00:09:46who signed off on it.
00:09:48Marcus and Victor were downstairs
00:09:49having lunch with clients.
00:09:51Neither came up.
00:09:52Neither even asked why I was leaving.
00:09:54I didn't take a single page
00:09:56that belonged to the company.
00:09:57The ledgers, project files,
00:09:59scanned contracts,
00:10:00everything was uploaded to the server.
00:10:06Why isn't the Eastridge loan on the handover list?
00:10:09That wasn't a standard loan.
00:10:10The paperwork wasn't with me.
00:10:11But it's due to rollover next week.
00:10:13The rollover condition isn't in the regular records.
00:10:16It's in a separate supplemental agreement.
00:10:18What condition?
00:10:22Let Victor figure it out himself.
00:10:25Ethan, stop playing games.
00:10:28If you hit a key condition,
00:10:29the company can hold you responsible.
00:10:31Everything's there.
00:10:31I hid nothing.
00:10:34Then why don't you just tell us?
00:10:37Because you're not senior enough to be in the loop.
00:10:40And someone at Victor's level
00:10:41isn't coming down here to see you.
00:10:44I wasn't planning to see him either.
00:10:48I signed the handover,
00:10:49picked up my box,
00:10:50and walked out.
00:10:52Everyone watched,
00:10:52but no one said a word.
00:10:58Ethan, walk out that door
00:10:59and don't bother coming back.
00:11:02Don't worry.
00:11:03You couldn't pay me to.
00:11:06Ethan, an important file is missing.
00:11:09What file?
00:11:10Eastridge's supplemental agreement.
00:11:12It has the loan renewal terms
00:11:12and the deposit deadline.
00:11:14I knew you were holding something back.
00:11:15That loan renews next week.
00:11:17If anything goes wrong,
00:11:18you'll be held responsible.
00:11:22Then call the police.
00:11:24The police?
00:11:25Ethan, don't try to scare me.
00:11:27A $40 million loan document is missing.
00:11:29You think the police won't care?
00:11:32I'm not bluffing.
00:11:33I'll call right now.
00:11:36Eastridge's supplemental agreement clause 9.
00:11:38Let go.
00:11:39Set the deposit deadline with no grace period.
00:11:42Miss it and Kelvin had to repay the loan immediately
00:11:44with its cash flow frozen.
00:11:46And once the syndicated credit special covenants kicked in,
00:11:48Kelvin could be pushed into bankruptcy.
00:11:50Victor was an idiot who couldn't even understand the terms.
00:11:52But I wasn't taking the blame for a missing file.
00:11:55Treasury records, how can I help you?
00:11:56Is the Eastridge Capital Bank's supplemental agreement
00:11:58in the records room?
00:12:00Victor checked it out last week.
00:12:02Did he return it?
00:12:03No.
00:12:03The checkout slip is still here.
00:12:05So Victor has it?
00:12:08Hear that?
00:12:10Victor only took it to review.
00:12:13Then let him keep reviewing it.
00:12:17Ethan, you really think this company can't survive without you?
00:12:19Of course it can.
00:12:21You've got your new VP with his $300,000 in bonus?
00:12:38You quit?
00:12:41I did.
00:12:43Any regrets?
00:12:44Only that I didn't leave sooner.
00:12:47Emily didn't ask about the bonus.
00:12:49Or what came next.
00:12:53The doctor told you to get a follow-up last month.
00:12:55You kept saying you were too busy?
00:12:57I'll go tomorrow.
00:12:59Not busy anymore?
00:13:00Not anymore.
00:13:02Saying those words, I realized how long it had been
00:13:04since I felt this free.
00:13:06I'd spent years chasing approvals,
00:13:08waiting on funds,
00:13:08and working through holidays.
00:13:10It's your day off.
00:13:11Why are you going in again?
00:13:13Regulatory inspection.
00:13:14I need to get the files ready.
00:13:20Marcus always said once the company went public,
00:13:23he'd make sure the longtime employees were taken care of.
00:13:28Ethan, once we go public,
00:13:30I'll make it worth your while.
00:13:31I'll double your year-end bonus.
00:13:33I waited eight years.
00:13:34No IPO.
00:13:36Victor came in,
00:13:36took my office,
00:13:37took credit for my work,
00:13:38and left him with a two-grand bonus.
00:13:51Victor chewed out the whole treasury team last night.
00:13:53He can't find Eastridge's contact list.
00:13:55It's on the company phone.
00:13:56We called.
00:13:57They won't pick up.
00:13:58I'd worked with Eastridge for six years.
00:14:00Victor met them once,
00:14:01showed up 40 minutes late,
00:14:03then told their relationship manager
00:14:04he was too busy for a small account like theirs.
00:14:07Ethan, can you help us reach them?
00:14:08Today's the deadline.
00:14:09We have no grace period.
00:14:12There was plenty of time.
00:14:13Victor only read the agreement today.
00:14:15Eastridge has to confirm the rollover this afternoon,
00:14:17and the collateral deposit can't be delayed.
00:14:18If the loan falls through,
00:14:19we might not make payroll next week.
00:14:21Sorry.
00:14:21I don't work there anymore.
00:14:30Well.
00:14:33He won't help.
00:14:39I had nothing against Noah,
00:14:41but if I cleaned up Kelvin's mess again,
00:14:43that two grand would just become my price tag.
00:14:45Marcus still doesn't know you quit.
00:14:47Don't push this too far.
00:14:58Daniel showing up himself
00:15:00meant Eastridge was done giving them chances.
00:15:02Kelvin had missed the final deadline.
00:15:04Tell your chairman Eastridge wants to meet now.
00:15:07The chairman is in a meeting upstairs.
00:15:09I'll call him right away.
00:15:11Daniel, this is just a minor processing delay.
00:15:13The deposit being a day or two late
00:15:15won't affect our partnership.
00:15:16The agreement is clear.
00:15:17There is no grace period.
00:15:19Rules are rules, but people can be flexible.
00:15:23So can risk.
00:15:39Why am I only hearing about this now?
00:15:41Well, the treasury handover was incomplete.
00:15:44Ethan never specifically flagged this risk.
00:15:46The agreement was in the system,
00:15:47but no one fagged the clause.
00:15:48It wasn't Ethan's job to flag the clause for you.
00:15:51Then who approved the request?
00:15:52Why hasn't it been paid?
00:15:54I did.
00:15:55But we needed a stronger year-end cash balance for the board.
00:15:57I only delayed it to make the numbers look better.
00:16:04Since the collateral deposit wasn't made on time,
00:16:07Eastridge now requires Kelvin to repay the 40 million loan
00:16:10within three business days.
00:16:13Three days?
00:16:13And the syndicated credit management group
00:16:16will reassess Kelvin's entire 170 million credit line.
00:16:20United Bank, please submit an explanation
00:16:22of the overdone Eastridge payment immediately.
00:16:28Ethan, where are you?
00:16:30Get back here now.
00:16:31We've got a crisis.
00:16:33I'm not at the office.
00:16:34Who approved your leave?
00:16:35Why wasn't I told?
00:16:36It went through the HR system automatically.
00:16:39Oliver confirmed it.
00:16:40Damn it, Oliver!
00:16:41Why didn't anyone tell me Ethan was taking leave?
00:16:43You'll understand the implications.
00:16:45This is unacceptable.
00:16:46We need a solution.
00:16:47Cancel your leave.
00:16:48Eastridge is here demanding repayment in three days.
00:16:50They'll only deal with you.
00:16:51Get back here!
00:16:52Oh.
00:16:53But I'm not just on leave.
00:16:54I've already submitted my resignation.
00:17:06Clause 9 is very clear.
00:17:08The collateral deposit had to be paid in full and on time.
00:17:11Otherwise, Kelvin would have to repay early.
00:17:12Terms can be negotiated.
00:17:19Eastridge Capital Bank is willing to wait until 6 tonight.
00:17:21Then we still have a chance.
00:17:23This isn't a chance.
00:17:24We're checking whether another agreement still holds.
00:17:26What agreement?
00:17:27The syndicated credit special covenants.
00:17:31I was the only one at Kelvin who truly understood that document.
00:17:34The $40 million loan was never the real threat.
00:17:37The real danger was on the last page.
00:17:40A cross default clause signed by the other five banks.
00:17:44Once triggered, that clause could bring Kelvin's entire cash flow crashing down.
00:17:52At 6.05 p.m., Daniel sent the notice.
00:17:55Eastridge wanted its money back, and the lending group was reviewing Kelvin's credit.
00:17:59Early repayment notice delivered.
00:18:01Emergency hearing at 9 a.m. tomorrow.
00:18:04Received.
00:18:04I'll state the facts only.
00:18:06I don't represent Kelvin Industries.
00:18:12I thought Kelvin would focus on the money.
00:18:15Instead, they were still trying to pin it on me.
00:18:26Victor claimed I refused the handover, hid clause 9, and took the bank contacts, causing
00:18:31the $8.5 million collateral deposit to go unpaid.
00:18:34The last page said Kelvin planned to sue me for $8.5 million.
00:18:39Don't sign anything.
00:18:41Don't let them touch your personal devices.
00:18:43Gather the handover records, emails, and server logs.
00:18:45Already done.
00:18:47Good.
00:18:47Let them keep digging.
00:18:54Ethan, Grace wants me to sign an extra set of meeting notes dated December 28.
00:18:58Were you at that meeting?
00:19:00No.
00:19:00You were in the other city that day, and Treasury never held a meeting that day.
00:19:05What did she say?
00:19:06She said they're just filling in the paperwork, and Victor already approved it.
00:19:09Save every message.
00:19:10Don't delete anything.
00:19:12If I don't sign, can they fire me?
00:19:14You can sign if you're willing to take the fall for falsifying records.
00:19:19I'm not signing.
00:19:21Then don't be afraid.
00:19:25Is the bank issue still going on?
00:19:27Halfway.
00:19:28Their story's starting to fall apart.
00:19:30Eat first.
00:19:34I used to say, later.
00:19:37That day, I didn't.
00:19:42You said these documents would keep the banks off our backs.
00:19:46If Ethan comes back, we can fix this.
00:19:48He's not coming back.
00:19:50Legal can send him a notice and force him to cooperate.
00:19:52Check his personal devices, find any client files, and we can turn this around on him.
00:19:56His leave was already approved.
00:19:58Put it under review.
00:20:00Give him 24 hours to come back.
00:20:05Do it.
00:20:11The next morning, Kelvin showed up at my door.
00:20:14Whatever you have to say, say it here.
00:20:16We're here on behalf of Kelvin Industries.
00:20:18Ethan needs to cooperate with an internal investigation.
00:20:23For what?
00:20:24We believe you took confidential company information.
00:20:26Bank contacts, credit terms, client communications.
00:20:29Proof.
00:20:30Let us check your phone and computer.
00:20:31It could help clear your name.
00:20:33No.
00:20:33You made the accusation.
00:20:34You prove it.
00:20:35Why should I hand over my devices?
00:20:37Ethan, don't push this too far.
00:20:38The company's ready to make up the bonus.
00:20:4070 grand to get me to swallow an 8.5 million claim?
00:20:43Nice deal.
00:20:44For you.
00:20:47We haven't actually sued you yet.
00:20:49You've already sent the negligence report to six banks.
00:20:57Ethan, don't sign anything.
00:20:59Don't let them touch your devices.
00:21:00I'm almost there.
00:21:01This is an internal matter between the company and an employee.
00:21:04A forged negligence report, an 8.5 million claim,
00:21:07and trying to search private devices?
00:21:09This is way beyond an internal dispute.
00:21:13No warrant?
00:21:14Stay away from my client.
00:21:22Kelvin Industries must preserve all server logs, emails, approval records, and meeting footage immediately.
00:21:32Until Victor Noah's not signing that fake meeting minute.
00:21:37After Victor and his people left, things finally went quiet.
00:21:40But I knew Kelvin wasn't done yet.
00:21:42If they're showing up at your door for your private devices, they're desperate.
00:21:45They're not worried about the money.
00:21:46They're worried they still haven't pinned this on me.
00:21:50At one that afternoon, I got a so-called meeting record.
00:21:53Time, place, attend beats, responsibilities.
00:21:55It had everything.
00:21:57Is that your signature?
00:21:59No.
00:22:00Where were you that day?
00:22:04600 kilometers away, at a United Bank review meeting.
00:22:12The record said I was at Kelvin headquarters at 9.30 that morning.
00:22:15I was actually sitting in a United Bank conference room 600 kilometers away.
00:22:23Ethan, Grace brought me those minutes again and asked me to sign them retroactively.
00:22:27Keep the messages, don't delete anything.
00:22:31They're dead set on pinning this on you.
00:22:34They can try.
00:22:36Don't show this yet.
00:22:37Save it for the bank hearing and bring it out in front of everyone.
00:22:43Daniel set the meeting.
00:22:44When?
00:22:4610 tomorrow morning.
00:22:48All six banks will be there.
00:22:57East Ridge's notice was formal.
00:22:58Everything was spelled out.
00:23:00The hearing, full recording, attendee list, and required documents.
00:23:04You're still not well.
00:23:05Do you really have to go?
00:23:07If I don't, they'll pin this on me sooner or later.
00:23:10I sent Daniel our terms.
00:23:12You're not attending as a Kelvin employee, and no one from Kelvin can meet with you alone.
00:23:16I agreed to go because they'd already named me in their negligence report.
00:23:19I had to clear my name myself.
00:23:25Ethan, you can't attend that meeting.
00:23:27This is an internal matter.
00:23:28You have no right to share company information with the banks.
00:23:31They call you the responsible party, then won't let you defend yourself.
00:23:34Interesting.
00:23:35They need someone to take the blame and keep quiet.
00:23:39At three, HR put my leave on hold and ordered me back within 24 hours for an investigation.
00:23:44They forgot the system logs everything.
00:23:47Tell them you're on approved leave.
00:23:49Anything they want goes through me.
00:23:54They paid the difference?
00:23:56They fixed the number, not the fax.
00:24:00They raised my bonus from $2,000 to $200,000, thinking I'd come back.
00:24:04All they proved was that the original bonus was wrong.
00:24:08Bring it tomorrow.
00:24:09They'll say this was all about money.
00:24:11Then let the bank see who decided you were only worth two grand.
00:24:18At 10 the next morning, East Ridge's conference room was packed.
00:24:22Risk, legal, and credit teams from all six banks were there.
00:24:27This hearing is being recorded.
00:24:29Any false statement could affect the final credit decision.
00:24:32Victor still looked as arrogant as ever.
00:24:35He probably thought whoever played the victim hardest would win.
00:24:39Kelvin Industries, please explain why the collateral deposit was missed.
00:24:43Former Treasury head Ethan Reed failed to execute the payment on time.
00:24:47Reacted as soon as we discovered it.
00:24:49Who had final approval?
00:24:53I did.
00:24:54When did you receive it?
00:24:56Five days ago?
00:24:57Then why didn't you approve it?
00:24:58The company had other cash needs.
00:25:00I only delayed it.
00:25:02The agreement says there is no grace period for the collateral deposit.
00:25:08Clause 9 was clear.
00:25:09The full deposit had to be paid by the deadline.
00:25:12No grace period.
00:25:13No verbal exceptions.
00:25:14Did Ethan flag the risk?
00:25:17Not in a separate notice.
00:25:18Please note that.
00:25:19He said no separate notice, not no notice.
00:25:27I sent three risk warnings, the last one six days before the deadline.
00:25:31Every email spelled out the consequences, and Marcus and Victor received them all.
00:25:35After the payment was rejected, I sent another urgent warning.
00:25:38Put it on screen.
00:25:42Victor replied with just one line.
00:25:47Next, let's verify the December 28 meeting moments.
00:25:52The fake minutes were finally on the table.
00:25:55They said I'd taken responsibility for the deposit at headquarters.
00:25:58At that exact same time, I was 600 kilometers away.
00:26:02These records are 17 minutes apart and 600 kilometers apart.
00:26:06How do you explain that?
00:26:07Maybe someone handled the backdated paperwork improperly.
00:26:10Does backdating paperwork create a signature too?
00:26:20The evidence left no gaps.
00:26:22My entire morning, from the hotel to North Star Bank, was documented.
00:26:28Who created these minutes?
00:26:31I don't know.
00:26:32The ECO log shows it came from your account.
00:26:36I'm not the only one who can access that account.
00:26:38Kelvin Industries, do not interfere with the witness.
00:26:40Sarah, tell the truth.
00:26:42Grace told me to do it.
00:26:43She said Victor approved it, and we were just filling in old records.
00:26:46That's a lie!
00:26:47The template and Ethan's signature image came from your office!
00:26:52They started fighting in front of all six banks.
00:26:55The harder Victor tried to distance himself, the more Sarah refused to take the fall alone.
00:27:02IT found a remote server login from last night.
00:27:04Someone was deleting approval logs dating back to December.
00:27:07Whose account?
00:27:12Victor Klein's routine cleanup.
00:27:14It had nothing to do with me.
00:27:16The login was verified through your phone.
00:27:18He kept calling me negligent, but the account deleting the evidence had his name on it.
00:27:25The room erupted.
00:27:26Now everyone could see Victor had been framing me.
00:27:30The hearing will continue.
00:27:32For now, Kelvin's negligency report will not be accepted as credible.
00:27:39Victor's meltdown didn't stop the hearing.
00:27:42Daniel called a 15-minute break while legal and IT secured the evidence.
00:27:48Our preliminary finding is that Kelvin caused the default itself.
00:27:51There's no evidence Ethan was negligent.
00:27:53Daniel, we can put up more caterals.
00:27:56Plant 2 is already fully pledged.
00:27:58What's left isn't enough to cover the risk.
00:28:00In other words, you've got nothing left to offer.
00:28:03I can personally guarantee it.
00:28:05Then you'll need real assets to back it up.
00:28:07He finally got it.
00:28:09Banks don't want promises.
00:28:10They want assets they can verify.
00:28:14With the syndicated facility frozen, there are serious doubts about Kelvin's ability to repay its debt.
00:28:20The 70 million bondholders meeting will be moved up.
00:28:22East Ridge calling in its loan was only the first hit.
00:28:25The real threat was the 70 million dollars bond.
00:28:28If the bond was accelerated, Kelvin's cash flow could collapse.
00:28:39Ethan, finance just found a suspicious payment.
00:28:45How much?
00:28:468.5 million.
00:28:48It went out the day before bonuses were paid.
00:28:52It went to a consulting firm less than six months old.
00:28:56It's controlled by Grace's brother, Leon Hall.
00:28:598.5 million.
00:29:01Exactly what East Ridge required for the collateral deposit.
00:29:07They didn't forget the collateral deposit.
00:29:09They moved the money.
00:29:11Ethan, I never approved this payment.
00:29:12Is there any way to trace it?
00:29:14Call the police.
00:29:16Any way without the police?
00:29:18Sure.
00:29:19Wait for Leon to give the money back himself.
00:29:23There's more.
00:29:24Sarah just admitted she made three transfers to the same firm over the past three months.
00:29:28Total?
00:29:3020 million.
00:29:33They thought this was one missed deposit.
00:29:36Now the real money pit was starting to show.
00:29:38By five that afternoon, Kelvin was officially in default.
00:29:42East Ridge froze several of its accounts.
00:29:55At eight the next morning, Marcus showed up in person.
00:29:58We can talk.
00:29:59Lucas stays.
00:30:04Ethan, did it really have to come to this?
00:30:06I wasn't the one who sent the first legal notice.
00:30:09He went quiet for a few seconds, then slid a new contract across the table.
00:30:16We'll restore your title.
00:30:18$400,000 a year, $700,000 bonus this year, plus 1% Phantom Equity.
00:30:23That's the best package the company can offer.
00:30:27Not bad.
00:30:30Come back, and we put all this behind us.
00:30:34I didn't say I was coming back.
00:30:38Then what do you want?
00:30:40Withdraw the negligence report, cancel the $8.5 million claim, publicly confirm I completed the handover.
00:30:45We can talk about all of that.
00:30:47Right now, we need the banks to trust us again.
00:30:51Daniel trusts me because I tell him the truth.
00:30:55Marcus probably thought I just wanted more money, but I didn't want a higher price.
00:30:59I wanted them to stop putting a price on me.
00:31:02Ethan, if Kelvin goes under, what happens to thousands of employees?
00:31:07Did you ask them that when you handed Victor a huge bonus and moved the collateral money?
00:31:11Since Mr. Blake says we can talk, let's start with this.
00:31:21Ethan wasn't even in the city that day.
00:31:23So how is his signature on these minutes?
00:31:25That's exactly the problem.
00:31:27I didn't press the issue of Victor framing me at the hearing.
00:31:30That didn't mean I was letting it go.
00:31:32You can call Victor right now.
00:31:35What happened with those meeting minutes?
00:31:37Ethan wasn't even at the office that day.
00:31:38He wasn't there, but it was still his responsibility.
00:31:40The banks wanted an explanation, so we gave him one.
00:31:44Who told you to put his signature on it?
00:31:46This isn't about the signature.
00:31:48We needed something to hold off the banks.
00:31:51Please, Mr. Klein, keep going.
00:31:53Who's there with you?
00:31:54My lawyer.
00:31:56That's when Victor realized every word he said was becoming evidence.
00:31:59Ethan, don't think a few emails get you off the hook.
00:32:02The collateral project was yours from the start.
00:32:05You blocked the deposit yourself.
00:32:07Who else is there to blame?
00:32:08I was protecting the company's interests.
00:32:10Was sending 8.5 million dollars to a shell company controlled by Grace's brother protecting the company, too?
00:32:15That was a strategic consulting fee.
00:32:20Victor, I want every contract and payment record by two.
00:32:23So now you're throwing me under the best?
00:32:24I was wrong to trust you.
00:32:28Ethan, don't send that recording out yet.
00:32:30Too late.
00:32:36That afternoon, Kelvin finally issued a correction.
00:32:40But they were still trying to bury the worst part.
00:32:43They didn't mention the forged signature?
00:32:47They're trying to call a crime a management mistake.
00:32:50Then let the facts speak for themselves.
00:32:54I didn't send anything to the media.
00:32:57The evidence belonged with the banks, police, and courts.
00:33:01But Kelvin's problems ran too deep for one statement to cover up.
00:33:05Ethan, the news story's out.
00:33:06Suppliers have seen it, too.
00:33:08What's the company saying?
00:33:09Marcus says it was just a few executives acting on their own.
00:33:12Are the accounts freezed?
00:33:13Eastridge froze four settlement accounts.
00:33:15The lending group put Kelvin on high-risk watch.
00:33:17This wasn't one rogue executive.
00:33:1920 million dollars moved out as consulting fees in just three months.
00:33:23Kelvin was leaking money from every direction.
00:33:25You owe us 4.3 min dollars two months overdue.
00:33:28We need an answer today.
00:33:29You'll need to speak with finance.
00:33:32Finance is under investigation.
00:33:33Who's even authorized to sign now?
00:33:42Our biggest raw material supplier cut us off.
00:33:47How long can inventory last?
00:33:48Three days, max.
00:33:50Marcus always said 300 million in revenue made cash flow a minor issue.
00:33:54But minor issues don't stop payroll leave production lines waiting on materials.
00:33:57The bond trustee tracks Kelvin's cash flow every day.
00:33:59The second trouble surfaced, they demanded an explanation for the credit freeze by noon tomorrow.
00:34:04Eastridge's 40 million dollars was only the first bomb.
00:34:06The clock was already ticking on the 70 million bond.
00:34:11If they can't explain the credit freeze, the bondholders will move the meeting up.
00:34:16Will that affect you?
00:34:19They'll try to drag me into it.
00:34:22I knew how Kelvin operated.
00:34:24First, call it a misunderstanding.
00:34:26Then pin it on someone who'd already left.
00:34:28But this time, the banks and creditors wanted proof.
00:34:33The trustee wants an explanation for the credit freeze.
00:34:35It's all over the employee chats.
00:34:36People missing paychecks waited downstairs all day.
00:34:38Keep the bondholders calm first.
00:34:39Without new collateral, they won't buy it.
00:34:41What about plant two?
00:34:42Eastridge already has a first priority lege on plant two.
00:34:44We can't touch it without the bank's approval.
00:34:47Then get Ethan to issue a statement.
00:34:51Ethan, the company will clear your name publicly.
00:34:53But first, we need a statement from you for the banks.
00:34:55A statement saying what?
00:34:56That Kelvin still has access to normal financing.
00:34:58And why would I say that?
00:34:59The company has nowhere else to turn.
00:35:01Okay.
00:35:02And how is that my problem?
00:35:04Nice words weren't going to stop the bondholders.
00:35:06At noon, they moved the meeting up.
00:35:07Kelvin has 24 hours to put up acceptable cattle.
00:35:10Otherwise, the 70 million bond comes due immediately.
00:35:12Does Marcus have enough assets in his own name?
00:35:14Not from what we can see.
00:35:20No sender name.
00:35:28The anonymous drive came with no explanation.
00:35:31Lucas didn't open it.
00:35:32He called a forensic firm first.
00:35:34We'll only make a forensic image.
00:35:35The original stays untouched.
00:35:37Make a forensic copy and record every step.
00:35:41Two hours later, the first directory was ready.
00:35:43The drive held two years of Kelvin's cash movements.
00:35:4617 suspicious payments totaling over $50 million.
00:35:50Nine were approved by Victor.
00:35:51The other eight happened before he joined the company.
00:35:53So he didn't dig the hole.
00:35:55He just kept digging.
00:35:56I stared at the oldest payment.
00:35:58$13 million had vanished from Kelvin two years earlier.
00:36:02Marcus told me a customer had paid late.
00:36:05If we don't get this bridge loan,
00:36:06payroll and supplier payments both stop.
00:36:09Then get the cost down.
00:36:12When $13 million suddenly disappeared,
00:36:14I had to run to four banks and plug the gap
00:36:16with an expensive bridge loan.
00:36:17Later, Marcus blamed me for the high financing costs.
00:36:22That company is controlled by Marcus's brother-in-law.
00:36:24So the customer delay was a lie.
00:36:27Marcus moved the money himself.
00:36:29There are chat logs too.
00:36:31Some approval IDs match Kelvin's server backups.
00:36:33Then this isn't just an anonymous tip.
00:36:37Read it.
00:36:39The guarantee or field it says Ethan Reed.
00:36:44The hole kept getting deeper.
00:36:46And now they were trying to dump even more debt on me.
00:36:52Before the bank sent the file,
00:36:54the police were already moving.
00:36:56Grace never left the city.
00:36:58And her brother Leon's consulting firm
00:36:59was nowhere near as big as the contract claimed.
00:37:02Where are the employee records?
00:37:04We work through outsourced partners.
00:37:05Then where's the work product
00:37:06for the $8.5 million in services?
00:37:09Most of the collateral money
00:37:11was transferred out the same day it arrived.
00:37:13Two more consulting payments
00:37:14brought the total to $20 million.
00:37:17Two million went to one of Victor's relatives.
00:37:20Some of the rest was moved offshore.
00:37:22And the remainder?
00:37:23Layered transfers.
00:37:25We haven't traced the final destination yet.
00:37:29Marcus can say his e-seal was misused.
00:37:32But for a payment this big,
00:37:33the bank usually calls to confirm.
00:37:37This wasn't some routine expense report.
00:37:39If it cleared every approval step,
00:37:41someone kept opening the door.
00:37:47The accounts are frozen.
00:37:48Only half of payroll went out.
00:37:50Has anyone started an employee committee?
00:37:52Not yet.
00:37:53Right now, everyone's just scared
00:37:55they won't be able to get into the factory tomorrow.
00:37:57I couldn't unfreeze their accounts.
00:37:58But employees couldn't be kept in the dark anymore.
00:38:01East Ridge has asked the court
00:38:03to freeze some of Kelvin's accounts and assets.
00:38:05The cash crunch was out in the open now.
00:38:08Next, the board would be looking for someone to blame
00:38:10and someone to save them.
00:38:14Henry was Kelvin's second largest shareholder.
00:38:17He'd stayed out of daily operations for eight years.
00:38:20Now Marcus had lost control
00:38:21and Henry stepped in.
00:38:23Ethan, the board is moving to suspend Marcus.
00:38:26What does that have to do with me?
00:38:27The banks will only listen
00:38:29if you explain the funding structure.
00:38:30We need your help steadying them.
00:38:33Everything said here is being recorded.
00:38:35Fine.
00:38:36The debt in the public financial staircase
00:38:38isn't the whole picture.
00:38:40After forged minutes and suspicious payments,
00:38:42I treated every page from Kelvin like evidence.
00:38:47What's the real number?
00:38:49About $540 million.
00:38:53Off-book financing?
00:38:54Three private lenders?
00:38:56Six loans?
00:38:57Did the funds ever enter Kelvin's accounts?
00:38:59Only about $30 million ever reached Kelvin.
00:39:01Where did the rest go?
00:39:05We're still investigating.
00:39:07Still investigating usually means
00:39:09someone knows the answer
00:39:10and doesn't want to say it.
00:39:11You wanted me to keep the banks calm
00:39:13so you could use the credit line
00:39:14to cover off-box losses?
00:39:16If the banks restore part of the facility,
00:39:18we still have a chance to restructure
00:39:19and keep hiding the real debt.
00:39:21The board will overhaul everything.
00:39:22And who's guaranteeing that?
00:39:29I'll take over temporarily
00:39:30and bring in outside auditors.
00:39:33That's your rescue plan, not mine.
00:39:36Three lenders are ready to sue.
00:39:37If the court freezes what's left,
00:39:39the factory's shut down completely.
00:39:41So what do you want me to sign?
00:39:46He won't sign a word.
00:39:48The moment I said the guarantee was under review,
00:39:51they could twist it into me
00:39:52admitting it might be valid.
00:39:54Why is my name on your off-books debt too?
00:39:58The board only learned yesterday
00:40:00that your name was on them.
00:40:01You've reviewed the books for years
00:40:02and nobody knew?
00:40:03Marcus controlled the financial reporting
00:40:05in the CEO's office.
00:40:06A lot never reached the board.
00:40:07That doesn't explain why my name is here.
00:40:10Every one of them says
00:40:12Ethan was Kelvin's key treasury executive
00:40:14and voluntarily assumed
00:40:15joint and several liability.
00:40:17Two of them even say
00:40:17I own 5% of the company.
00:40:19You don't own any shares?
00:40:20Not a single share.
00:40:22Marcus had promised me equity for years.
00:40:25The promise never made it to paper.
00:40:26The debt did.
00:40:32Daniel, I'm listening.
00:40:34United Bank has a $43 million
00:40:35acquisition loan guarantee in its files.
00:40:37You're listed as the guarantor.
00:40:39Lucas has the scan.
00:40:40We won't come after you personally
00:40:42until we verify it,
00:40:43but we need your response quickly.
00:40:44Date on the document?
00:40:46April 16 last year.
00:40:49I was at United Bank that day.
00:40:51Kelvin was applying
00:40:52for acquisition financing.
00:40:53I was there only to explain
00:40:55the project's cash flow.
00:40:56Please sign the interview record here.
00:40:59I'm only confirming what I said today.
00:41:01This is not a personal guarantee.
00:41:03Understood.
00:41:08It looks complete.
00:41:09Complete doesn't mean real.
00:41:11Don't jump to conclusions yet.
00:41:14Whoever made it was careful.
00:41:15The signature looked like mine.
00:41:18The ID was real.
00:41:19And even the fingerprint stamp
00:41:20was in the right place.
00:41:23I only signed the interview record
00:41:24in a handover form that day.
00:41:26If the footage shows
00:41:27someone altered the file
00:41:28after you left,
00:41:29this guarantee could blow back
00:41:30on whoever made it.
00:41:37The guarantee was 14 pages.
00:41:39The first 12 matched.
00:41:40The last two had slightly different ink
00:41:42and binding holes.
00:41:43Your signature is on
00:41:44on the second to last page.
00:41:47Meaning the signature page
00:41:48may have been swapped in later.
00:41:50That's enough to get it examined.
00:41:53The footage came back fast.
00:41:55It showed me leave
00:41:55right after I signed
00:41:56the interview record.
00:41:57The original seal request
00:41:59named Marcus Blake
00:42:00is the personal guarantee.
00:42:01The filed version
00:42:02named you instead.
00:42:04Who filed the final version?
00:42:06It came from Kelvin Finance.
00:42:08Sarah was the contact.
00:42:11If that's true,
00:42:12the board was lied to too.
00:42:13That doesn't make the debt mine.
00:42:15Henry will keep the debt list
00:42:16you brought as evidence.
00:42:17Then what happens to the company?
00:42:19Whoever forged it
00:42:20answers for it.
00:42:21They're trying to dump
00:42:22another debt on you?
00:42:2443 million this time.
00:42:28Go to sleep.
00:42:29The debt won't disappear
00:42:31just because you lose
00:42:31another night over it.
00:42:36For eight years,
00:42:37I kept cleaning up
00:42:38the company's messes.
00:42:39Now I know their problems
00:42:41aren't mine to carry.
00:42:46I didn't arrange that guarantee.
00:42:48Who was supposed to guarantee it?
00:42:55Marcus already admitted
00:42:56two things.
00:42:57He was supposed to be
00:42:57the guarantor
00:42:58and the company kept
00:42:59your signature and fingerprint
00:43:00on file.
00:43:01Does that prove it's fake?
00:43:02Not by itself,
00:43:02but it's enough for police
00:43:04and the banks
00:43:04to keep digging
00:43:05into the CEO's office.
00:43:06One admission doesn't
00:43:07make a case.
00:43:08Every link needs evidence
00:43:08behind it.
00:43:09Daniel knows too?
00:43:10Once a guarantee like this
00:43:11is in doubt,
00:43:12all six banks will know.
00:43:14Banks can live with risk,
00:43:15but they won't tolerate
00:43:16his fake paperwork
00:43:16in the files,
00:43:17especially when it puts
00:43:18a guarantee on a treasury
00:43:19director who had no shares
00:43:20and no authority.
00:43:27It's a delivery.
00:43:35I'd never seen that index
00:43:36and I never authorized
00:43:38anyone to make a stamp
00:43:38for my fingerprint.
00:43:39We don't know
00:43:40if the sender is credible,
00:43:41but the document matters.
00:43:42Don't touch the original.
00:43:43Who would send us this?
00:43:44Someone inside the company
00:43:45who was afraid
00:43:46of going down with them.
00:43:47Kelvin was in chaos,
00:43:49no one trusted anyone,
00:43:50and people were leaking
00:43:50evidence to save themselves.
00:43:57Marcus already admitted
00:43:58two things.
00:43:59He was supposed to be
00:43:59the guarantier,
00:44:00and the company kept
00:44:01your signature and fingerprint
00:44:02on file.
00:44:02Does that prove it's fake?
00:44:04Not by itself,
00:44:05but it's enough for police
00:44:06and the banks
00:44:06to keep digging
00:44:07into the CEO's office.
00:44:08One admission doesn't
00:44:09make a case.
00:44:09Every link needs evidence
00:44:10behind it.
00:44:11Daniel knows too?
00:44:12Once a guarantee
00:44:13like this is in doubt,
00:44:14all six banks will know.
00:44:16Banks can live with risk,
00:44:17but they won't tolerate
00:44:18his fake paperwork
00:44:18in the files,
00:44:19especially when it puts
00:44:20a guarantee on a treasury
00:44:21director who had no shares
00:44:22and no authority.
00:44:29It's a delivery.
00:44:37I'd never seen that index,
00:44:38and I never authorized
00:44:40anyone to make a stamp
00:44:40with my fingerprint.
00:44:41We don't know
00:44:42if the sender is credible,
00:44:43but the document matters.
00:44:44Don't touch the original.
00:44:45Who would send us this?
00:44:46Someone inside the company
00:44:47who was afraid
00:44:48of going down with them.
00:44:49Kelvin was in chaos,
00:44:50no one trusted anyone,
00:44:52and people were leaking
00:44:52evidence to save themselves.
00:44:56Three lenders wanted
00:44:57my assets frozen.
00:44:58Their case looked simple.
00:44:59Contracts, signatures,
00:45:01fingerprints, recordings,
00:45:02all pointing at me.
00:45:04Mr. Reed was Kelvin's
00:45:05treasury head.
00:45:06The contracts carry his
00:45:07signature and fingerprint stamp.
00:45:08We asked the court
00:45:09to freeze his property
00:45:10and bank accounts immediately.
00:45:11You funded the loans
00:45:12without ever meeting
00:45:13the guaranteeer.
00:45:13Was your risk process
00:45:14just for show?
00:45:16We also have a recording.
00:45:18If Kelvin Industries
00:45:19can't repay the debt,
00:45:20I, Ethan Reed,
00:45:20will be jointly libed.
00:45:21That voice sounded
00:45:22exactly like mine.
00:45:24If I weren't the one
00:45:24being framed,
00:45:25I might have believed it
00:45:26for half a second.
00:45:28The loan term is 36 months.
00:45:30Interest will be
00:45:31as set out in the agreement.
00:45:32Mr. Blake.
00:45:33Then I caught the flaw.
00:45:34Someone in the background
00:45:35said Mr. Blake,
00:45:36and Marcus answered.
00:45:39Pause it.
00:45:41Mr. Reed,
00:45:42what would you like to say?
00:45:43Marcus Blake is on that recording.
00:45:45If they say I signed the guarantee,
00:45:46explain why he was
00:45:47the one in the room.
00:45:48We request voice analysis,
00:45:49forensic analysis
00:45:50for signs of editing,
00:45:51and all visitor logs
00:45:51from that date.
00:45:52This is a delay tactic.
00:45:53If your evidence is genuine,
00:45:54what are you afraid of?
00:45:56Granted.
00:45:57The freeze request
00:45:58is on hold
00:45:59until the forensic report
00:46:00and additional evidence
00:46:01are submitted.
00:46:01They used a fake voice
00:46:03to go after my house
00:46:04and accounts.
00:46:04But one quiet reply
00:46:06put Marcus there too.
00:46:09He's not just dumping
00:46:10the dead on you.
00:46:11He's getting ready to run.
00:46:17By the next morning,
00:46:18the forensic results
00:46:19started coming in.
00:46:20First handwriting,
00:46:21none of the six signatures
00:46:22were mine.
00:46:23The stroke pauses,
00:46:25connections,
00:46:26and finishing pressure
00:46:27don't match
00:46:28Ethan Reed's known samples.
00:46:31These weren't live fingerprints.
00:46:33The same stamp
00:46:34was used on all six.
00:46:36So someone made a stamp
00:46:37from his fingerprint
00:46:37in advance.
00:46:39Based on the ridge edges,
00:46:40yes.
00:46:42Strangely,
00:46:42I wasn't even that angry.
00:46:44Stealing my signature
00:46:45was crazy enough.
00:46:46But they'd even made
00:46:47a mold of my fingerprint.
00:46:48The recording has
00:46:4927 splice points.
00:46:51Some lines came from
00:46:52completely different
00:46:53acoustic environments.
00:46:54And what about the line
00:46:55on the loan term?
00:46:56Most likely from
00:46:57a management meeting.
00:46:58The original phrase
00:46:59was 36 business days,
00:47:01not 36 months.
00:47:05Used fake audio,
00:47:07forged signatures,
00:47:08and a fingerprint stamp
00:47:09to freeze the assets
00:47:10of a man who was
00:47:11never even there.
00:47:12We're victims too.
00:47:13Kelvin gave us
00:47:14the documents.
00:47:15Then explain why
00:47:16you funded the loans
00:47:16without ever meeting him.
00:47:23The current evidence
00:47:24does not establish
00:47:25Ethan Reed's
00:47:26guarantee reliability.
00:47:27The three freeze
00:47:28applications are denied.
00:47:32Hundreds of millions
00:47:33in debt that appeared
00:47:34under my name
00:47:35suddenly had no legal
00:47:36footring.
00:47:37But Lucas wasn't smiling.
00:47:39Ethan, this isn't finished.
00:47:40The forged documents
00:47:41are just the surface.
00:47:43What do you want
00:47:43to look into?
00:47:47Who got the loan commissions?
00:47:52That afternoon,
00:47:54a loan officer
00:47:54at one private lender
00:47:55was taken in
00:47:56for questioning.
00:47:57Investigators found
00:47:57a commission sheet
00:47:58on his computer.
00:47:59He got a 3% kickback
00:48:00on every loan he funded.
00:48:02Who paid it?
00:48:03An affiliated company
00:48:05controlled by
00:48:05Marcus's brother-in-law.
00:48:09That connected the dots.
00:48:11Leon's company
00:48:11wasn't just taking the money.
00:48:13It was laundering kickbacks
00:48:14through fake consulting fees.
00:48:17Don't list this
00:48:17as loan services.
00:48:19Change it to
00:48:19financing strategy consulting.
00:48:20Split the amounts
00:48:21across different months.
00:48:22Don't bunch them up
00:48:22and trigger an audit.
00:48:23Got it.
00:48:23I'll backfill
00:48:24the contract tonight.
00:48:25Victor didn't start this.
00:48:26He inherited the setup
00:48:27and scaled it up.
00:48:30That's the sickest part.
00:48:32The board thought
00:48:32the disaster started
00:48:33when Victor came in.
00:48:35But the company
00:48:35had been bleeding money
00:48:36long before that.
00:48:45The report's out.
00:48:47How bad?
00:48:49Real debt is close
00:48:50to $540.
00:48:51Valid assets are worth
00:48:52less than $370 million.
00:48:57Kelvin still had factories,
00:48:59orders, and equipment.
00:49:01But once production stopped
00:49:02and assets were tied up,
00:49:03their value kept falling.
00:49:05Kelvin is filing
00:49:05for pre-restructuring.
00:49:07The employee chats
00:49:08are blowing up.
00:49:09Payroll?
00:49:10Only half went out.
00:49:15Police found guarantee templates
00:49:17on an old computer
00:49:18in the CEO's office.
00:49:19They may be connected
00:49:20to your signature records.
00:49:22After the fake audio,
00:49:23fake guarantees,
00:49:24and the commission sheet,
00:49:25the part that really chilled me
00:49:26finally surfaced.
00:49:28The CEO's office
00:49:29wasn't just storing documents.
00:49:33Police found more than
00:49:3420 fingerprint stamps
00:49:35for Kelvin executives
00:49:36in the CEO's office archive.
00:49:39Mine was Nurse 7.
00:49:40No usage record at all.
00:49:42No record doesn't mean
00:49:43it wasn't used.
00:49:44It means someone
00:49:45didn't want it recorded.
00:49:46What about the old computer?
00:49:49The template was created
00:49:50by Victor Klein.
00:49:51The latest print job
00:49:52came from Marcus'
00:49:53secretary's account.
00:49:54Victor wasn't even
00:49:55at the company
00:49:56four years ago.
00:49:57Victor triggered
00:49:58the first blast,
00:49:59but he wasn't the only one
00:50:00planting bombs.
00:50:03Marcus told me
00:50:04to print them.
00:50:05He said they were backups
00:50:05and would never be used.
00:50:08What else did he ask you to do?
00:50:10Early this morning,
00:50:11he told me to bring some cash
00:50:12to a parking garage.
00:50:13I got scared and didn't go.
00:50:17Marcus' car was abandoned here.
00:50:19His driver's missing,
00:50:20and there's something wrong
00:50:21with the passport records.
00:50:24At the same time,
00:50:25the driver had booked a flight
00:50:26out of a border city
00:50:27for that night
00:50:28using a fake name.
00:50:29He was trying
00:50:30to leave the country.
00:50:32Border control
00:50:33and the airports
00:50:33have already been alerted.
00:50:39The driver will talk.
00:50:41Marcus thought
00:50:42he could burn the papers,
00:50:43turn off his phone,
00:50:45ditch the car,
00:50:46and leave the blame
00:50:47in Kelvin's ruins.
00:50:49We found Marcus.
00:50:53police found Marcus hiding
00:50:54in an empty apartment
00:50:55owned by his brother-in-law.
00:50:57Phone off,
00:50:57cards disabled,
00:50:59half-burned contract pages
00:51:00by the fireplace.
00:51:01I was hiding from creditors,
00:51:02not running.
00:51:03Your driver says you told him
00:51:04to plan an escape route
00:51:05and get a fake passport.
00:51:07He did that on his own.
00:51:13Your secretary says you told her
00:51:14to deliver cash.
00:51:16He was still trying
00:51:17to make it look like
00:51:18everyone acted on their own.
00:51:20But this time,
00:51:21the evidence got there first.
00:51:23The board will file
00:51:24for pre-restructuring
00:51:25and suspends Marcus Blake
00:51:26from all positions.
00:51:27You're only suspending him now?
00:51:28Real debt is already
00:51:29close to $440 million.
00:51:31We'll protect the core
00:51:31production lines and jobs.
00:51:33Employees only trust payroll
00:51:34and benefits
00:51:35that are written into the plan.
00:51:36I used to be the one saying that.
00:51:38Now Noah had learned it too.
00:51:40A verbal promise
00:51:41doesn't mean much.
00:51:41Once the application is filed,
00:51:43we'll convene a creditor's meeting
00:51:44as soon as possible.
00:51:46Banks, suppliers,
00:51:47and employees
00:51:47will all be there.
00:51:48The six banks
00:51:49won't accept
00:51:50verbal explanations anymore.
00:51:51Every dollar
00:51:52has to be traceable.
00:51:55Kelvin finally entered
00:51:56pre-restructuring.
00:51:58Marcus was detained
00:51:58and Victor, Sarah, and Grace
00:52:00were all blaming one another.
00:52:01But this wasn't a victory.
00:52:04Are you going to take
00:52:05another call?
00:52:06If it's the company, no.
00:52:08If it's an employee,
00:52:09I'll hear them out.
00:52:11Ethan, we're not asking you
00:52:12to save the bosses.
00:52:13We just want you to check
00:52:14whether the restructuring plan
00:52:16has enough money for payroll.
00:52:19I won't bail off my old company,
00:52:22but the people who didn't
00:52:23fake contracts or move money
00:52:24shouldn't go down with them.
00:52:27Noah's petition
00:52:28was covered in signatures.
00:52:29More than 3,000 names
00:52:31behind the same request.
00:52:32If you're here to ask him
00:52:33back to Kelvin,
00:52:33you can leave now.
00:52:34No, we're not here
00:52:35to save Marcus.
00:52:38We just want Ethan
00:52:39to check whether
00:52:39the restructuring plan
00:52:40actually sets aside
00:52:41enough for payroll.
00:52:45I knew them.
00:52:46Some had been there
00:52:47six years,
00:52:48some less than one.
00:52:49When the crisis hit,
00:52:50they learned the board's promises
00:52:52didn't mean there was
00:52:53money to pay them.
00:52:57You formed an employee committee?
00:52:58Temporary.
00:52:59Wages, health insurance,
00:53:00retirement contributions.
00:53:01Everything has to be written
00:53:02into the plan.
00:53:03We don't trust
00:53:03verbal promises anymore.
00:53:04We pooled $180,000
00:53:06for consulting fees.
00:53:07Just a little from everyone.
00:53:08Take the money back.
00:53:10Ethan, leave the documents.
00:53:12I'll review the employee section only.
00:53:14Banks, creditors, shareholders.
00:53:16I stay out.
00:53:17I won't defend my old company
00:53:19or bad loans,
00:53:20but innocent employees
00:53:21shouldn't be left wondering
00:53:22if they'll get paid.
00:53:23One rule, no all-nighters.
00:53:25Not this time.
00:53:26I'll have them send
00:53:27everything to my firm.
00:53:28Ethan gives advice only.
00:53:30He won't touch the money.
00:53:30Understood.
00:53:31We want rules.
00:53:32We don't want you
00:53:33carrying the company again.
00:53:40The plan looked like
00:53:41it could save
00:53:42the production line.
00:53:43But the first page
00:53:45had a problem
00:53:45I'd seen before.
00:53:47The payroll budget
00:53:48covers only two months.
00:53:56Hobstone,
00:53:56Kelvin's new investor,
00:53:58was now part
00:53:58of the restructuring.
00:53:59Henry represented
00:54:01the investor side.
00:54:02Ethan,
00:54:03I hear you're only
00:54:03reviewing payroll
00:54:04for the employees.
00:54:05To be clear,
00:54:06I don't represent
00:54:07any company.
00:54:08I only flag risks.
00:54:12Go ahead.
00:54:13Set up a dedicated
00:54:14payroll account.
00:54:15Fund six months of wages,
00:54:17health insurance,
00:54:18and retirement contributions
00:54:19up front.
00:54:19No debt payments,
00:54:21purchasing,
00:54:21legal fees,
00:54:22or transfers out.
00:54:23That locks up
00:54:23at least $12 million
00:54:24in cash.
00:54:25If pay stops in month three,
00:54:27production stops again,
00:54:28then you'll lose far more
00:54:29than $12 million.
00:54:32Who oversees it?
00:54:33One employee rep
00:54:34and one outside supervisor.
00:54:36My firm can oversee it.
00:54:37Ethan doesn't touch the money.
00:54:39Agreed.
00:54:40Submit the revised plan tomorrow.
00:54:43It was the first Kelvin document
00:54:45I'd touched since leaving.
00:54:46This time,
00:54:47it wasn't protecting
00:54:48the boss's numbers.
00:54:52The employee committee accepts.
00:54:55Then we'll prepare
00:54:56for the first creditors meeting.
00:55:05Marcus would join by video.
00:55:07Even then,
00:55:08he wasn't going to admit
00:55:09he was out.
00:55:14Before the first creditors meeting,
00:55:16the administrators
00:55:16sent everyone
00:55:17the audit summary.
00:55:18A few pages said
00:55:19more than any apology could.
00:55:21The meeting will be
00:55:22fully recorded.
00:55:23Keep comments
00:55:24to the pre-restructure plan.
00:55:26Kelvin is only facing
00:55:27a temporary cash rush.
00:55:29The core assets
00:55:30and orders are still there.
00:55:31Restore the credit lines
00:55:33and we can recover
00:55:34on our own.
00:55:35Then explain 17
00:55:36suspicious payments,
00:55:37over $900 million
00:55:38in exposure
00:55:38from fake guarantee.
00:55:39$60 million
00:55:40in off-book financing
00:55:41and $20 million
00:55:42in shell company
00:55:43consulting fees.
00:55:44Those issues
00:55:44are under investigation.
00:55:46They don't reflect
00:55:47Kelvin's real operating strength.
00:55:49You said it was
00:55:49a process issue
00:55:50when you owed us
00:55:51over $7 million too.
00:55:53Marcus loved
00:55:54calling every crisis temporary.
00:55:56The books
00:55:57weren't playing along anymore.
00:55:59The board has suspended Marcus
00:56:00and will cooperate fully
00:56:01with the restructuring.
00:56:02The old board missed
00:56:03off-book financing
00:56:04and forged guarantees.
00:56:05Its oversight role
00:56:06must be reassessed.
00:56:07Employees made no board decisions
00:56:09and signed no guarantees.
00:56:10We want three things.
00:56:11Back pay,
00:56:12restored health insurance
00:56:12and retirement contributions
00:56:13and protection for core jobs.
00:56:15Does Hobbit Group
00:56:15accept those terms?
00:56:16Yes.
00:56:17We'll put another $12 million
00:56:18into the dedicated payroll account.
00:56:19The account requires signatures
00:56:20from an employee rep
00:56:21and an outside supervisor.
00:56:22No executive can move
00:56:23the money alone.
00:56:23All six banks
00:56:24support that arrangement.
00:56:25We support it too.
00:56:26The room had turned
00:56:27but no one was waiting
00:56:27for Marcus still needs
00:56:28to answer for this.
00:56:29The missing money to come back
00:56:30just take charge anymore.
00:56:31Is Ethan pulling the strings
00:56:32behind all of you?
00:56:33No.
00:56:33He only checked
00:56:34whether the payroll funding
00:56:35was enough.
00:56:36That's something the company
00:56:36should have handled itself.
00:56:39After Noah said that,
00:56:41Marcus' feed was cut.
00:56:42The administrative
00:56:43wasn't giving him more time.
00:56:44Read it before you sign.
00:56:45Six months funded,
00:56:46payroll only,
00:56:47no pledging
00:56:47and the money can't be frozen
00:56:48to pay ordinary debts.
00:56:49What if production recovers
00:56:50faster than expected?
00:56:51What happens to the extra money?
00:56:52It stays there
00:56:53until the restructuring plan
00:56:54is final.
00:56:54Payload isn't the company's
00:56:55emergency fund.
00:57:01Finance used to say
00:57:02cash was tight
00:57:03and all we could do was wait.
00:57:04At least now we know
00:57:05where the money is.
00:57:06Money locked in the account
00:57:07was worth more than
00:57:08any promise from a boss.
00:57:09Does Hobstone Group
00:57:10confirm the additional
00:57:11employee-only funding?
00:57:12Confirmed.
00:57:13The account opens
00:57:14this afternoon.
00:57:15The first deposit
00:57:15hits within 24 hours.
00:57:17The banks agreed
00:57:18to discuss restarting production
00:57:19as long as payroll funds
00:57:21were kept separate.
00:57:22Core suppliers
00:57:23can resume partial deliveries
00:57:24but minimum safety payments
00:57:25have to clear first.
00:57:26The plan already sets out
00:57:27the payment priority.
00:57:30You cannot decide
00:57:31Kelvin Industries' future
00:57:32without my consent.
00:57:33You're suspended.
00:57:34The creditors decide now
00:57:36under court supervision.
00:57:39I founded this company
00:57:40and you're the one
00:57:41who drove it
00:57:42into pre-rest relation.
00:57:43There was no applause
00:57:45or laughter.
00:57:46Just pages turning.
00:57:47Rules don't need to shout
00:57:49to remove someone
00:57:50from power.
00:57:54The pre-rest relation framework
00:57:56passes in principle.
00:58:01Read it.
00:58:05It wasn't an apology.
00:58:06It just looked like one
00:58:07at first.
00:58:08Marcus says you helped
00:58:09build Kelvin with him.
00:58:10He admits mishandling the bonus
00:58:12and says he was wrong
00:58:12to trust Victor.
00:58:13Keep going.
00:58:14He's offering you
00:58:14all his remaining shares
00:58:15if you tell police
00:58:16and the banks
00:58:16the guarantees
00:58:17were normal company financing.
00:58:18He still wants you
00:58:19to change your story for him?
00:58:20Not change it.
00:58:20He wants me to turn
00:58:21forgery into procedure.
00:58:22Even now, Marcus didn't get it.
00:58:24I didn't leave
00:58:24because we couldn't agree
00:58:25on a price.
00:58:29Lucas, send the original
00:58:30to police and the administrator.
00:58:32You're sure?
00:58:33He's offering shares
00:58:34to buy my testimony.
00:58:35That's evidence too.
00:58:38Ethan, if you took the shares,
00:58:39a lot of people
00:58:39would say you won.
00:58:40I don't need Kelvin shares
00:58:41to prove I won.
00:58:43Then what do you want?
00:58:44Clear my name.
00:58:45Get people paid
00:58:46and hold the forgers accountable.
00:58:49That's enough.
00:58:55The framework is approved.
00:58:57Hobfield gets exclusive
00:58:58investment rights.
00:58:59The employee payroll account
00:59:00will be set up today.
00:59:02Hobfield will implement
00:59:02the revised plan.
00:59:03The six banks
00:59:04will keep reviewing
00:59:05phages to credit support
00:59:06under the new oversight structure.
00:59:08The supplier committee
00:59:09will join the oversight.
00:59:10The old board
00:59:10had no seat
00:59:11in the new structure.
00:59:12Banks, employees,
00:59:13suppliers
00:59:13and the administrator
00:59:14were finally
00:59:15at the same table.
00:59:17Now he couldn't just
00:59:17cut people off anymore.
00:59:24The day the new rules
00:59:25came out,
00:59:25Noah called me.
00:59:26Ethan, the bonus rules
00:59:27are public now.
00:59:28Contribution, project risk,
00:59:29approval responsibility,
00:59:31it's all spelled out.
00:59:31And any bonus change
00:59:32needs a written reason.
00:59:33Employees can request a review.
00:59:35I used to think
00:59:35bigger companies
00:59:36meant better rules.
00:59:37Turns out in rules
00:59:37just become someone else's weapon.
00:59:39Everyone says
00:59:40your $2,000 bonus
00:59:40made it into company policy.
00:59:42Don't make me
00:59:42the cautionary tale.
00:59:43You're not.
00:59:44The company paid
00:59:45$540 million
00:59:46to learn that
00:59:47professionalism
00:59:47isn't weakness.
00:59:52I never threw away
00:59:53that badge.
00:59:55It wasn't a souvenir.
00:59:57It was a reminder.
01:00:00Same signature.
01:00:02This time,
01:00:02it wasn't to take the blame.
01:00:19I stared at Noah's message
01:00:20for a long time.
01:00:22In the end,
01:00:22I sent a short reply.
01:00:27You don't want to go?
01:00:29It's not that I don't want to.
01:00:30There's just no reason
01:00:31to go now.
01:00:32That place took
01:00:32eight years of my life
01:00:33and I'm not going back.
01:00:35A company should run on rules,
01:00:37not on one person
01:00:38holding it together.
01:00:39A month later,
01:00:40Lucas and I rented
01:00:41this small office.
01:00:43No ribbon-cricking,
01:00:44no champagne.
01:00:45Just two desks,
01:00:46a printer,
01:00:47and a clear set of rules.
01:00:49Those three rules
01:00:50beat any ad.
01:00:50They'll scare off
01:00:51plenty of clients, too.
01:00:52Good.
01:00:52Saves us from
01:00:53seeing you in the court later.
01:00:54Our first client
01:00:55came in at 5.40 p.m.
01:00:57A manufacturer
01:00:58with a thick stack
01:00:58of financing documents.
01:01:00It's urgent.
01:01:01Can you fix the plan tonight?
01:01:02The bank wants it
01:01:03tomorrow morning.
01:01:03We'll talk at 9 tomorrow.
01:01:05Won't that put us behind?
01:01:07The problem needs
01:01:07an overnight fix.
01:01:08It's probably been
01:01:09ignored for too long.
01:01:14I used to stay.
01:01:15Now I go home for dinner.