Chapter 9 - Thayer’s company was under pressure
Thayer was not poor.
He founded Cole Event Development, which owned stakes in luxury wedding venues and boutique event properties.
His public image:
Successful.
Expansion-minded.
Polished.
Actual finances:
Complicated.
Two venue acquisitions had underperformed.
A renovation loan was coming due.
A lender required additional collateral or equity.
Amount:
Approximately $1.8 million.
Thayer had already pledged:
A brokerage account.
One condominium.
His interest in another property.
He needed liquidity.
Did that mean he planned to steal a ring?
No.
Debt is motive only when connected to conduct.
Then we found the connection.
A private lender named Northbridge Capital had emailed Thayer:
Alternative high-value movable collateral may be acceptable subject to appraisal and proof of ownership/control.
Thayer forwarded the email to himself with note:
Bellamy sapphire? temporary bridge only.
May you like
My sister read that line three times.
Then sat down.
