Chapter 11 - MONIQUE’S CONTRACTS

Mercer Commercial Interiors had paid Monique’s design company $1.6 million over four years.
Were the contracts fake?
No.
Her company did work.
The question was price and process.
Some contracts lacked competitive bids.
Several were approved using Nina’s share proxy to overcome objections from independent directors.
Monique’s margins exceeded comparable vendors.
Not criminal by itself.
Potential fiduciary conflict.
Then:
A $430,000 “brand refresh” project.
Actual subcontracting cost:
$176,000.
Monique kept the spread.
Charles approved.
Daniel’s shares voted yes through Charles.
If the proxy was invalid, several transactions required reevaluation.
Now I understood why Charles had fought so hard to remain Nina’s proxy.
May you like
Not just company pride.
Votes.