November 2007.

Scene: Business luncheon for social purposes.

I was dining with my direct manager, our portfolio manager and a team of portfolio managers from servicing. Our team managed commercial loans before they were packaged into securitization. Portfolio managers from servicing managed pools of loans after they are securitized. This is relative.

Not so random observation: The restaurant was located in the Gateway Village which has been a problematic location for restaurants. I’m witness to three great concepts unable to maintain.

The conversations range in scope from education; a few are paying tuition for their career college students still trying to figure out what they want to be in life, relocating and travel. The latter stands out because all of our separate conversations merged into one as ‘Frank’ talked about an upcoming trip to tour Europe that would include visits to multiple cities. Everybody else is doing it, so why can’t we? [This is relevant because I was drinking Cranberry juice.] Without fail the group opined about the cost, to which he replied how economical it could be for any of us with proper planning. His plan included overnights with friends and family to offset the cost of hotels. I believe he stated it was customary to repay their hospitality by treating them to an incredible meal and drinks. One universal truth, we all share a love of great food and drinks. So everyone wins? I did have a thought as I looked down at my $14 bill for a half sandwich, bowl of soup and glass of cranberry juice. Picking up the tab for a group of people may prove to be more costly than… never mind.

End Scene.  

Life was good for living souls during this time, especially for our man ‘Frank’ who closed on a condominium in Uptown Charlotte. It is the character of very few men to honor without envy a friend who has prospered. I was genuinely happy for him; I did however become envious when I heard he may have paid cash for it.

Envy turned to laserslike intensity on January 10, 2008.

“Francisco ‘Frank’ Fernandez, 43, was arrested this morning on a federal criminal complaint alleging theft, embezzlement and/or misapplication by a bank officer.”  It was alleged that from July 2007 through December 2007, he embezzled approximately $457,384.79 by allegedly given a bank customer his personal bank checking account number for them to wire payments into instead of the correct bank account number to which these payments should have been wired.

Mr. “Let me know if you caught the Cranberries reference” TramueL