The Neighbor from Geneva

By F. David Ford

In "The Neighbor from Geneva," author F. David Ford crafts a spellbinding narrative that takes readers on a thrilling journey through the worlds of international finance, espionage, and organized crime. The story begins with the passing of a woman in a quaint New Jersey town, leaving her son, Jack Gelt, as the sole heir. Jack, an international private banker living in Switzerland, becomes the center of curiosity for his eager neighbors, especially when they discover he's an eligible bachelor.

However, the townsfolk are oblivious to the troubles that the enigmatic newcomer will bring with him. Simultaneously, readers are introduced to James Krieg, a former United States Department of Justice lawyer who is facing the ire of American intelligence and a powerful Russian Oligarch. Determined to start anew, Krieg leaves his position at the Rialto Bank in Zurich and returns to the United States.

But Krieg's return thrusts him right back into a whirlwind of banking intricacies, international espionage, and the clutches of organized crime. As he struggles to navigate this treacherous world, a ghost from his past resurfaces, setting off a chain of events that turns his life upside down.

Jack Gelt and James Krieg inhabit vastly different spheres, but fate weaves an intricate tapestry that draws them together. The question looms: Will Gelt's audacious choices lead to Krieg's downfall, or will their intersecting destinies reveal deeper layers of deception and intrigue?

Set against a backdrop of financial crime and global intrigue, "The Neighbor from Geneva" is a riveting thriller that explores the intricate web of power, ambition, and the unforeseen consequences of one's actions. Prepare to be swept away by a tale that blurs the lines between international finance and personal vendettas.

• Language: English
• Publisher: BookBaby
• Release date: Dec 18, 2023
• ISBN: 9798350925593

Book preview

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The Neighbor from Geneva

This is a work of fiction. Names, characters, businesses, financial institutions, organizations, events, and incidents are the product of the author’s imagination or are used fictitiously. Any resemblance to actual persons, living or dead, events, locales, or financial institutions is coincidental.

Copyright ©2023 Frank David Ford

ALL RIGHTS RESERVED. This book contains material protected under International and Federal Copyright Laws and Treatises. Any unauthorized reprint or use of this material is prohibited. No part of this book may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording, or by any information storage and retrieval system without the express written permission from the author.

Print ISBN: 979-8-35092-558-6

eBook ISBN: 979-8-35092-559-3

You can’t go back and change the beginning,

but you can start where you are and change the ending.

—C. S. Lewis

Table Of Contents

1. Geneva, Switzerland

2. Geneva, Switzerland

3. CIA Headquarters, Langley, Virginia

4. Geneva, Switzerland

5. Geneva, Switzerland

6. Montclair, New Jersey

7. Montclair, New Jersey

8. Santa Monica, California

9. Geneva, Switzerland

10. Washington, DC

11. Washington, DC

12. Geneva, Switzerland

13. Montclair, New Jersey

14. Washington, DC

15. Annecy, France

16. Montclair, New Jersey

17. CIA Headquarters, Langley, Virginia

18. Washington, DC

19. Montclair, New Jersey

20. George Town, Cayman Islands

21. Washington, DC

22. Montclair, New Jersey

23. Geneva, Switzerland

24. George Town, Cayman Islands

25. Geneva, Switzerland

26. George Town, Cayman Islands

27. Geneva, Switzerland

28. Montclair, New Jersey

29. Montclair, New Jersey

30. Geneva, Switzerland

31. George Town, Cayman Islands

32. Geneva, Switzerland

33. George Town, Cayman Islands

34. New York City, New York

35. Miami, Florida

36. Beirut, Lebanon

37. Owen Island, Cayman Islands

38. Montclair, New Jersey

39. Geneva, Switzerland

40. George Town, Cayman Islands

41. Geneva, Switzerland

42. George Town, Cayman Islands

43. Beirut, Lebanon

44. Geneva, Switzerland

45. CIA Headquarters, Langley, Virginia

46. Geneva, Switzerland

47. George Town, Cayman Islands

48. Montclair, New Jersey

49. Montclair, New Jersey

Acknowledgments

About the Author

Chapter 1

Geneva, Switzerland

M ’sieur Gelt, the police are asking for you at the reception. Can you come down, please? the attendant at the bank’s entrance said into the phone. The attendant tried to be calm in front of the police officers, but he worried that clients entering the bank would be alarmed and ask questions.

The police? What do they want?

They want you to come down. They’re trying to be discreet and not go up to your office. It could scare the clients meeting with their bankers, the attendant whispered while smiling as he looked at the police. It’s not good publicity to have the police inside the bank.

Jack Gelt was an experienced private banker who had often crossed the line into accepting dodgy funds. He excelled in helping the clients move money in ways that eliminated or significantly confused the audit trail and helped them create a profile that would get them through the account-opening process. He considered himself a consigliere to his shady clients. It was quite remunerative, and he swore to himself he would retire once he had $15 million in the bank. That was his number; he wasn’t greedy.

Private banking, providing financial services to high-net-worth individuals, faced greater scrutiny than in the past. There were numerous scandals involving banks accepting funds originating from corruption, fraud, and drugs and arms trafficking, to name a few. The authorities in many jurisdictions, including well-known offshore jurisdictions, were cracking down. In addition, the extraterritorial application of US laws made it easier for the US authorities to assert their jurisdiction over the laundering of criminally derived assets. Bankers like Gelt were now prime targets for prosecution. The world of international private banking was changing, but not all the players were attuned to those changes.

Tell them I’m coming right down, Gelt said feeling a certain tightness in his stomach.

The Geneva police were quite civilized, not like law enforcement in certain countries that made a show of coming to your office, handcuffing you, and frog-marching you out of the bank, with the press ready to film the whole process. Gelt was confident that he could talk his way out of any police investigation. He had done so in the past and this would be no different—or so he thought.

Good morning, officers, how may I be of assistance?

M’sieur Gelt, the police officer said, you are under arrest for money laundering and fraud. Please come with us.

What is this about? Where am I going?

To prison, M’sieur. Your client Ahmed Suleiman has confessed. We know all about how you helped him launder the money stolen from the sovereign wealth fund. You’ll need a lawyer.

Gelt had been reading the headlines about investigators and law enforcement authorities trying to find billions of dollars stolen from a sovereign wealth fund. One of his clients had opened an account and transferred $80 million into it a few months back. Considering the client’s profile, Gelt suspected that the client may have participated in the theft. The client, of course, provided some incredulous story about how he had acquired the funds. Gelt worked with the client to create a profile that would pass the scrutiny of the compliance department. He described the client’s source of wealth as a mix of inheritance, great investments, and payments for consultancy services.

Nothing to worry about, I’ve been through this before, just stay calm and collected he told himself with little conviction as he was taken to a holding cell. He realized that all the hard work creating a client profile and surreptitiously moving Suleiman’s funds to his bank in Geneva was for naught if Suleiman was singing like a canary. It wasn’t looking good.

Gelt could forget about any help from the bank. The bank’s senior management would portray Gelt as a rogue banker who didn’t represent the practices and values of the bank. Gelt also knew that the news of his arrest would spread quickly among Geneva’s banking community, and then the press would start its show. He needed to speak to his lawyer.

As had most of the financial world, Gelt’s attorney had been following the news of the theft of billions of dollars from a sovereign wealth fund. The story made the headlines of the world’s major newspapers. He hoped that the scandal would bring some business his way.

As for Gelt’s client, Ahmed Suleiman, he had stolen over $100 million through loans that shouldn’t have been approved, and that he never intended to pay back. He had hidden some of the funds in Dubai, but his banker there was not as skillful as Gelt, and the authorities traced and seized the money.

Suleiman had flown to London and was arrested shortly after he landed on an Interpol Red Notice. The authorities in his home country had significant evidence of his theft. He decided the best course of action was to cooperate and take as many people down with him in exchange for a decent deal from the prosecutors. Suleiman’s dream of buying a home in a posh area of London was now dashed.

As for Gelt, his life was about to go through some traumatic changes.

Chapter 2

Geneva, Switzerland

Maitre Roland was a well-known and talented Geneva attorney who specialized in defending wealthy individuals accused of financial crimes. To say he was amoral was to be kind. He was a learned, skilled orator—and quite crafty. When he and Jack Gelt met for the first time, they immediately recognized each other as kindred souls in their respective professions. This made the encounter that much more productive.

Gelt was still being held in a cell but was permitted to consult with his lawyer in a small meeting room. He had been questioned by the police earlier and he denied involvement in any criminal activity. He informed them that he had simply been duped by his client.

So, M’sieur Gelt, the attorney said, it seems you are in a difficult position. Please tell me what happened.

Gelt understood that Maitre Roland was no Catholic priest waiting for a confession. He expected Gelt to construct a defense in the rendition of the facts. And so Gelt did.

Maitre, thank you so much for seeing me on such short notice. I know you have a very busy schedule. You can imagine how I felt when I was taken away from the bank by the police. I was horrified. I’m told that one of my clients, Ahmed Suleiman, has committed a crime, and he is falsely accusing me of assisting him in hiding the money to ingratiate himself with the authorities. These criminals are shameless.

Yes, well, criminals aren’t known to have high moral standards. It’s clear your client is a thief, and now a liar as well. Can you tell me about how long you’ve known the client and about the funds he entrusted to your bank?

Mr. Suleiman was referred to me by another client. They’re friends and belong to the same dinner club in their home country. When my client heard that Suleiman was looking for a banker, my client gave him my coordinates.

Where is this client at the moment?

Unfortunately, he was also recently arrested on fraud charges and is in jail. Nothing to do with the sovereign fund. I learned of this last week since the authorities froze his account at the bank.

As you say, an unfortunate confluence of circumstances. Are you under investigation relating to that fraud?

No, not at all, said Gelt. It was just bad luck that the client decided to bank with us. I was aghast, as you can imagine. So far, the only requests from the authorities are for the client’s bank records and the freezing of his assets.

Uhm, that is good news. Please continue your story, I mean the recollection of the facts relating to the account opening.

So, Suleiman shows up and wants to open an account and deposit $80 million. I’m interested, of course, but I want to ensure that these are legitimate funds. The fact that one of my clients referred him to the bank provided me some comfort. Had I known that my client was involved in a fraud, I would not, of course, have accepted Suleiman as a client.

Roland nodded. Other than a reference from an existing client, what additional due diligence did you perform?

I followed the bank’s guidelines, Gelt said, and I asked for the source of wealth information. At my request, Suleiman provided me with documentation showing that he was handsomely paid to provide consultancy services relating to investment advice he provided to the treasury of a petroleum company in his home country, copies of brokerage statements evidencing that he made significant profits from his investments, and proof that he inherited millions of dollars from his family. Once I received copies of the documents, I sent them to the compliance department and requested the opening of the account. Compliance received the file and approved the account opening. That’s why I don’t understand why I was arrested.

That’s exemplary. You should know that Mr. Suleiman claims that the documents are fabricated and that you told him to provide fraudulent paperwork to justify the deposits. He says you gave him the name of someone that could assist him. I’m sure the authorities will review those documents and visit the person who Suleiman claims created them.

It’s hard to believe that Suleiman is making me the fall guy for his criminal activity. That’s disgusting. Why would the authorities believe him?

I have more bad news for you, the attorney said. The US Department of Justice is also investigating the matter. Some bankers in New York appear to have had some role in facilitating the theft of the funds. We’re talking about several billion dollars that are missing so you and your bank are small players in this saga. Nevertheless, the US is interested in your bank’s role in the money laundering, I’m afraid.

Why do they care what happens in Switzerland? Isn’t that a matter for the Swiss?

The transactions in Suleiman’s account at your bank are in dollars and went through a correspondent bank account in New York. May I assume that you’re a US citizen?

Yes, I’m still a US citizen. I was going to renounce my citizenship once I obtained Swiss citizenship. I still have a couple of years to go before I’m eligible. Have I been accused of a crime by the Americans?

No, but they will likely request the bank documents, including all documents justifying the $80 million deposit. I’m sure your compliance officer carefully reviewed the documents before agreeing to approve the account opening. Suleiman fooled him as well. There’s more bad news. Suleiman claims that you advised him on how to move the money so it couldn’t be traced to his account in Geneva.

Gelt shook his head. This man is incredible. He’s the crook, but everyone else is responsible? I do recall that the funds came in tranches from various jurisdictions. It was credited to an account in my bank that was opened to collect the funds. Once the entire $80 million was received, the account was closed. The funds were internally transferred to another account that was opened for the client. This account is for a self-directed Cayman Island trust holding a British Virgin Island company. All this was done at the client’s request, of course.

Let me ask the obvious question. Why did he want that particular structure?

For security and confidentiality reasons, Gelt said. His home country is not safe and he would have to worry about kidnapping or extortion if certain people were aware of his wealth.

It makes perfect sense. Where did the funds come from?

Mostly from money exchange businesses in Dubai and Hong Kong. Some money came from a bank in Singapore. Again, this was to assure a certain level of confidentiality. At least, that’s what the criminal told me.

You’re referring to your client, I suppose, Roland said. The source of the funds could be a weak point in the case but nothing that can’t be overcome. I’ll be able to get you out of jail until your hearing, but you’ll have to hand over your passport. All passports if you have more than one.

Only one passport. What about the Americans? Do you think they’ll charge me with a crime?

I’ll look into it. They should let the Swiss worry about any crimes that occur in Switzerland but you know how they love to police the world. I’m hoping they will focus on the bad actors in the US. There are enough of them to keep the US authorities busy. The funds are scattered in several countries and it’s reported that some of the money was spent on yachts, artwork, and luxury homes. Some of the homes are in New York and California. Why someone would give the Americans a reason to assert jurisdiction is quite baffling. I would’ve thought that they would have obtained better advice. It’ll take some time to get the bank records and arrest those suspected of being involved. Suspects that cooperate, like Mr. Suleiman, make it easier to put the pieces together.

The bank and I are victims of this thief—and to think I managed to get him an invitation to the Monaco Grand Prix. The bank only offers those invitations to the best clients. This is how he thanks us. Whom can you trust these days?

Yes, indeed. I should be able to get you out of here in a day or so. Let me look into this dreadful matter and we will meet again shortly.

Maitre Roland left the room pleased that his client had a good story to tell. He admired Gelt’s rendition of the facts with the requisite expression of outrage. It was clear that Gelt knew how to play the game, and Maitre Roland had a particular appreciation for this type of client. It made it that much easier to win the case.

Considering the publicity around the billions of dollars stolen from the sovereign wealth fund, Maitre Roland would enhance his reputation as one of the best lawyers in Geneva. It would generate even more business from the wealthy criminal class.

As the saying goes, "Pecunia non olet" (money has no odor).

Chapter 3

CIA Headquarters, Langley, Virginia

Camille Fox had worked for the Directorate of Operations for several years and was hooked on the challenges and risks posed by working undercover. She had joined the CIA after graduating with a master’s degree in Security Studies from Georgetown University. She had already proven herself in several difficult posts and had recently been sent to Geneva. Her official role was working for the US Permanent Mission to the World Trade Organization. Fortunately, she was a quick study and soon became familiar with many of the trade issues. Her primary role, however, was recruiting assets in Geneva that would provide information on banking clients of interest to the agency. Like many undercover agents working for the CIA, she had two jobs: one official and the other covert. The fact that in addition to English, she spoke French, Spanish, and German was also helpful in integrating herself into international organizations.

Due to her various roles, she had official and unofficial reporting lines; but at least once a year she made her way to the agency headquarters in Langley. It was there that she was briefed on a couple of operations that went south primarily due to the inability of the agency to properly cover its financial tracks. Fox was asked to provide a briefing on the offshore banking business and the recruitment of bankers and compliance officers in Switzerland. Her briefing was well received and there were discussions on the latest international money-laundering investigations. There was particular interest in the theft and laundering of billions of dollars from a sovereign wealth fund.

Camille was asked to go over to the US Department of Justice, the DOJ, to get further details on the investigation and to determine how the agency could assist. In reality, she would provide little information in order not to comprise sources but would get a good idea of the players and the money movements. The CIA and DOJ had very different agendas. The former was interested in information and the latter in prosecutions.

After the DOJ briefing, she returned to Langley and shared the information with senior managers in the Directorate of Operations. She would also have to brief the CIA chief in Bern once she returned to Switzerland. The suspects in the theft were all persons of interest since they included ministers, politicians, and investment bankers. There was also an interest in a banker who’d been arrested in Geneva, Jack Gelt. He was just the type of roguish, debonair, and amoral banker that could be of use to the agency. He was also in trouble, and there was leverage that could be applied to convince him to do the agency’s bidding.

So, Camille, what do you think of getting Gelt as an asset and having him move money for us? He seems to be quite talented in that area, although his choice of clients leaves much to be desired, said a senior officer at the Directorate of Operations.

I reviewed the money trail with the DOJ, and his client’s account in Geneva wouldn’t have been detected if the client hadn’t spilled the beans to the authorities. Gelt is good at what he does, and the clients he attracts look for that skill set. Gelt’s main concerns are making money and not getting caught. Unfortunately for him, he is in the hot seat right now. Although he has a very good lawyer, and he may walk. In that case, we no longer have much leverage on him.

How solid is the case against him?

According to the DOJ, Fox said, it has the cooperation of his client and it’s trying to get the person who created the false documents—the ones justifying the deposit of the assets—to turn on Gelt. The DOJ and the Swiss would then have to work out who would prosecute him first. Since he was arrested in Geneva, the Swiss have the upper hand. And Gelt isn’t foolish enough to travel to the US.

Sounds like his lawyer has his work cut out for him. We could use someone like Gelt to open accounts for the agency and advise on ways to lose the audit trail. As you’ve heard, we’ve had some trouble hiding the money trail in a couple of operations. It would be better if he had another passport. It can be difficult for an American to open accounts overseas, especially in Switzerland. I suppose we could provide him with one.

If he buys at least $200,000 in real estate in St. Kitts and Nevis, he can get a passport from that country. He doesn’t have to live there or even visit the country. And he can buy real estate there while in Switzerland. Plenty of other places he can get a second passport through investments.

Like my father once told me, you can never have too many passports or know too many languages, said the officer. Right now let’s see how we can get him to cooperate in exchange for making the Swiss and US charges go away. We would need to work something out with the DOJ, and they can figure out how to convince the Swiss to drop the charges against Gelt. He’s a small fish in this billion-dollar-plus massive theft. The DOJ and the Swiss have much bigger targets to focus on than Gelt.

Yes, but can we trust him?

Not likely. That’s why we limit the information we give him and ensure we have sufficient leverage on him to keep him quiet.

Fox nodded. I’m planning to head back to Geneva in a couple of days. I’ll contact him when I return. I heard that he was released from jail and that he surrendered his passport. I don’t think he’ll be traveling anytime soon. He does have a fair chance of beating the charges. And the bank put him on administrative leave, so he’s still getting paid.

Good luck. Make sure you brief our man in Bern before you try to recruit Gelt. He can decide whether the ambassador needs to know. If you can convince Gelt to work for us, that would be a great coup.

Camille Fox was a skilled recruiter, and she would be researching everything there was to know