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  ‘It depends what you mean by experience,’ said a masculine voice from the doorway. ‘Mine’s OK but I’ve recently spent far too much time undercover. My section commander Neil Gunton thought I might like a change of scene.’ He paused, then continued, ‘It seems that your commissioner pulled an impressive flanker on us to get our friend here sprung from Paddington Green.’ Jeremy grinned and went on, ‘A good move, no doubt. My instructions are simple: “Help them get whoever is behind the Bishopsgate bombing. Find out what they’re up to next and please make certain that Mr Khan doesn’t go missing.” Neil has offered us whatever support we require because, in his words, “This is a joint venture.” Basically, I’m here to help get to the bottom of what’s going on.’

  Kate looked at Jeremy. He was in his early thirties and in great shape; his handsome tanned face and his boyish good looks were emphasised by a strong jawline. She introduced Emma and herself. ‘We’re part of a specialist team that looks into major corporate and financial fraud. We tend to do the research side of things and from time to time are allowed out. We report to Detective Chief Superintendent David Pryke who’s on his way back from MI5 headquarters, having given the press and anyone else interested in Mr Khan the runaround.’

  ‘Sorry not to have been here sooner,’ Jeremy hesitated as he decided how much to tell his new colleagues. ‘I had a couple of matters to deal with after this morning’s Joint Counter-Terrorism meeting. Mr Khan, you have split the group. The majority still think that you are part of an ITS and that you are still locked up at Paddington Green.’

  ‘What do you mean by ITS?’ enquired Rafi.

  ‘Islamic Terrorist Syndicate – it’s our catch-all phrase for Islamic groups hell-bent on terrorist activities in the pursuance of their fundamentalist ideals.’

  Rafi nodded, ‘Thank you.’

  ‘As I was saying,’ continued Jeremy, ‘my boss Neil and I have been told by the head of MI5 to run with Rafi’s line of thinking. The head of Five reckons there are inconsistencies that need investigating – quietly – off other people’s radar screens. Neil’s section and I have stuck our necks out on this one, so Mr Khan I look forward to you proving your doubters wrong!’

  Jeremy stopped talking and looked around the room. ‘How many people know that Mr Khan is here?’

  ‘The three of us plus David, our boss, and Commissioner Giles Meynell,’ replied Kate.

  ‘Good. Let’s keep it that way. My section is briefed and will be able to provide you with back-up.’ Jeremy turned to Rafi. ‘I look forward to hearing what you suspect is going on. By the way, you pissed off the two of my colleagues who interviewed you. It seems that you managed to evade their questioning for over sixty hours without any sleep and practically no food or water. I dropped by to see them before I got here and they looked absolutely knackered. They thought that they’d got you hook, line and sinker, and are – how can I put it? – in the doghouse. They’d never seen so much evidence stacked against a terrorist suspect and have the bugger slip through their fingers. I’m sorry for the harsh treatment the guards gave you.’ Jeremy paused, ‘It seems that you were set up good and proper.’

  Jeremy looked at Rafi. ‘Mr Khan I hope we can forget Paddington Green and focus on unravelling what the hell is going on.’

  ‘Fine by me, but do call me Rafi – please.’

  ‘Good; thank you,’ said Jeremy. ‘Kate what have you got planned first?’

  ‘David should be back shortly. I suggest we then have a council of war to sort out our strategy. In the meantime I’ve asked Greg Thompson, our IT specialist, to pay us a visit to set up some more PCs. He should be with us any time now.’

  As if on cue, Greg, a bespectacled thin man of indeterminate age, walked into the room. ‘How can I help? I have arranged for extra networked desktops to be set up. Do you need anything else?’

  ‘When you have a spare minute could you ring Ray Isles, our IT gatekeeper?’ said Jeremy. ‘And Kate, who would you like to have in the loop with my section at MI5?’

  ‘Emma and me, please.’

  ‘Greg, please chat to Ray and sort out the necessary encryption software so that they can read copies of my emails. Also, can you give him Kate’s and Emma’s mobile numbers?’ Jeremy turned to Kate. ‘I will run you through the text message codes which will alert you when an important email has been sent.’ He turned to Greg. ‘Ray is a bit sensitive when it comes to his security software. If he stalls you, tell him you have clearance from the top.’ Jeremy smiled. ‘You know how it is?’

  Greg nodded. ‘If that’s all, I’ll be off.’

  As he was leaving the room, Kate turned to her team. ‘Let’s get started. I propose we get Rafi to give a short presentation on what he has found and believes is going on. How long will you need to pull your thoughts together?’

  ‘Ten, maybe fifteen minutes should do,’ came Rafi’s hesitant reply.

  ‘Excellent,’ said Jeremy. ‘It’s rather nice working somewhere new. Oh, by the way, in the taxi I passed Luigi’s, a small restaurant round the corner; it looked family run. Is it any good?’

  ‘Yes, but we tend to use the canteen downstairs,’ replied Kate.

  ‘I’ve been living off cruddy food for the past eight weeks,’ explained Jeremy, ‘I could do with something to perk me up; if it’s all right with you lot I’ll nip out to see what they do. How about I put the first lot on my card and after that someone else can have a go?’

  Everyone looked sheepish.

  Rafi suspected that expenses for food weren’t reclaimable. ‘Does anyone know where my personal effects and wallet ended up?’ he asked.

  Kate looked at Rafi. ‘We got you out of Paddington Green in a bit of a hurry. Sorry, I’ve no idea.’

  ‘I’ve a suggestion,’ Rafi continued. ‘Could you get Luigi’s to run a tab and as soon as I’m in the clear I’ll pay the bill?’

  ‘Great plan Rafi. I’m going to enjoy working here.’ Jeremy looked delighted and was off out the door.

  Kate and Emma were looking a little surprised and uncomfortable.

  ‘I’m uncertain how to say this Rafi, but it doesn’t seem fair,’ said Kate.

  ‘I could do with some good quality food, and I owe you for getting me out of that hellhole. Don’t worry; I’m good for the money regardless. We’re in the City, remember? “My word is my bond” and all that.’

  Emma smiled. ‘Most unusual, but thank you.’

  The door swung open and Jeremy entered, acting like a conjuror who was about to pull a rabbit out of a hat. He was clutching three bags with Luigi’s restaurant logo.

  ‘Here we are! Sorry for the delay. Luigi is a great chap. We’ve lined up a tab with him and have put it in your name, Kate. I hope that’s in order. Seems the guys downstairs were helpful when someone tried to break into his restaurant several months back. He’s very pleased to help in any way, any time of day. Who’s for coffee? I got cappuccinos and some pizza . . . Help yourselves!’

  The two women looked at the pizza and hesitated, thinking of the calories, then grinned at each other.

  ‘I should tuck in, you don’t know when we’ll next have time for a break,’ said Jeremy. He looked at his watch with a smile, ‘Or even time for a meal!’

  Rafi sat savouring the food and drink.

  ‘Now that Jeremy’s back and Rafi has done his thinking, let’s get started,’ said Kate. ‘First question: how does the Bishopsgate bombing fit in with your theory of what is going on?’

  ‘I’m not entirely certain,’ replied Rafi, ‘but my gut feeling is that it was meant to be part of a bigger plan. My other thought is that it was in the heart of the City so perhaps it was designed to heighten tension.’

  ‘So you believe that the bombing will be followed up by another?’ asked Emma.

  Rafi nodded and looked at Emma wishing he’d more understanding of what was really going on. ‘Yes, my hunch is that they’ll be targeting the weakened financial markets, but at this point in time I too am working in the da
rk as to what exactly they might be planning.’

  ‘OK,’ said Kate, ‘let’s come back to how Bishopsgate fits in in due course. What else do we have?’

  ‘The spreadsheets,’ said Emma.

  ‘I am sure that Callum Burns was on to something in Luxembourg and his crash was no accident. Why go to such trouble if all you’re up to is price fixing. I reckon that this is just the tip of the iceberg. I suggest we need to work out why they were using the clandestine nominee names in just the four companies, and see where that leads us.’ Rafi told them about Callum’s concerns, then shuffled off to the whiteboard and gingerly picked up a felt-tip pen. ‘What we could do, first of all, is look at the exact role that the four companies might play.’

  He wrote on the board the names and a short description of each of them. It was slow progress, though, because his hand ached like hell.

  The first company he wrote down was very familiar to him. The others weren’t, as his funds weren’t invested in them.

  Renshaw Smithers: a small financial intermediary – a deal maker focusing on public sector projects and outsourcing companies.

  Unicorn Sceptre Finance: poor quality credit providers; focuses on students.

  Dewoodson: property services company; includes a chartered surveying arm.

  ESSA: executive search and selection agency; with executive placement and corporate PR divisions.

  Rafi’s hand ached.

  Emma looked at him. ‘How about I do the writing for you from now on?’

  Rafi smiled and nodded.

  ‘If one adds together Prima Terra’s and the unknown nominee holdings, how large are the combined shareholdings?’ asked Emma.

  ‘Between 38% and 47%’ replied Rafi.

  Emma scratched her head. ‘The Stock Exchange Blue Book states that shareholders acting in concert with more than 30% of a company must bid for the whole company.’

  ‘Precisely, which is presumably why they’ve gone to the trouble of concealing their stakes through clandestine offshore nominee names,’ said Rafi.

  ‘Surely someone would blow the whistle?’ said Kate.

  ‘Let’s say that the company and its registrars were sold a good story about changes to the nominee names management businesses and were happy that nothing untoward was going on – I don’t see why it should come up on the radar screen. If you look at the long list of shareholders and the vast array of nominee names, only a very diligent analyst like Callum Burns might spot something odd going on. The story is that the ultimate investors are major European fund management groups who changed their nominee name management business when they moved their funds to Luxembourg,’ said Rafi.

  ‘Perhaps the executive directors were happy with these shareholders?’ suggested Kate.

  ‘Surely,’ said Emma, ‘the question is why do they only have huge shareholdings in these four companies and why don’t the dubious nominee names show up in any of the other listed companies Rafi looked at?’

  ‘Perhaps they’re after making money on a takeover,’ suggested Kate.

  ‘I’ve thought of that one. The rewards don’t seem to justify the risks,’ said Rafi.

  ‘And surely they’d get caught when the payouts were made and the FSA cast its eye over things.’

  ‘Good point Kate,’ said Emma. ‘How’s about they want to influence the board of directors and use the company for something?’

  ‘Oh hell! Why didn’t I think of that? But what use might these companies have?’ added Rafi.

  ‘That’s precisely what we hope you’ll help us find out,’ said Kate. ‘Emma could you research what each company does? Basic stuff at this point I suggest.’

  ‘I know Renshaw Smithers and its activities very well, but next to nothing about the other three companies,’ said Rafi, ‘perhaps you could concentrate on them and I’ll do a short summary of the bank’s activities.’

  ‘Will do,’ said Emma.

  ‘Next on our list we can add the people and businesses Callum visited in Luxembourg. According to his office he visited CPR Investment Funds run by Hubert Vynckt, a couple of tax lawyers, a REIT and had a fifth meeting in the afternoon with a tax specialist, I think. The REIT is a friend, I think, but I reckon one or more of the others may be dodgy,’ said Rafi.

  ‘Anything else?’ asked Emma.

  Rafi thought for a moment. ‘I’ve one other thought, purely on a hunch and totally off the wall, but it’s about the way I was treated at Paddington Green.’

  Jeremy raised his eyebrows, but didn’t interrupt.

  ‘Well, whereas my two interrogators were,’ Rafi paused, ‘belligerent and aggressive, they were professionals. It’s just that the BlueKnite guards and caterers seemed to have it in for me – the way they went about things seemed over the top – it’s probably nothing, though.’

  ‘We’ll bear that in mind,’ said Jackie. ‘You look dead on your feet. Perhaps after a short nap, you’ll be able to get your mind into gear?’

  Rafi nodded.

  ‘OK, follow me.’

  She led him down to the basement cells, with the blanket over his head. She picked up a second blanket and a pillow and ushered him into a cell.

  ‘Not five-star accommodation, but at least it’s quiet. I’ll come and get you in a couple of hours. I’m sorry but I need to lock you in, otherwise the duty policeman might investigate.’ The door swung shut behind her.

  Rafi smiled. And a few seconds after his head hit the pillow, he was out. The next thing he knew, Kate was standing over him.

  ‘Come on sleepyhead, time to get going.’

  He followed her back to the office. A cup of black coffee was waiting there for him.

  ‘How goes it?’ Rafi asked Emma.

  ‘Give me a few minutes and I’ll show you where I’ve got to. We’re running through our strategy in a meeting with David, Jeremy and Kate in fifteen minutes’ time.’

  ‘OK here’s what I’ve done so far,’ continued Emma. ‘I’ve been looking for links. Renshaw Smithers: their new private finance initiative and public private partnerships projects teams were headhunted by ESSA. It says so on their website. As far as Unicorn Sceptre Finance and Dewoodson are concerned, I’m still working on them. I’m afraid it’s been slow progress.’

  ‘Keep going,’ said Rafi, ‘I’m sure something will start to gel.’

  ‘I’ve been considering the nominee names,’ said Kate. ‘Why are you so sure that they’re run out of Luxembourg?’

  ‘That’s what Callum said the company registrars told him,’ said Rafi.

  Emma thought for a moment, ‘Why don’t we pick up the phone and speak to the registrars of the four companies?’

  ‘Yes, but,’ said Rafi, ‘how can we be sure that someone won’t report our enquiries to their terrorist masters? Look what happened to Callum. At the moment, the terrorists don’t know we’re on to them. And I’m not keen for them to find out.’ After a short pause he continued, ‘Would it be possible for me to be kept up to date with the movements of a person?’

  Jeremy put his head up. ‘Who do you want to know about?’

  ‘Jameel Furud,’ Rafi replied. ‘He left for Paris last Friday morning and is staying at a smart hotel until tomorrow. I’d love to know whether he’s coming back into the UK or whether he is going to prolong his holiday. I’d put good money on him moving to a country where the extradition treaties are less than easy to enforce. And can you see if he’s by himself? If you take me out of the picture as the prime suspect, I reckon Jameel steps in to fill the gap.’

  ‘Leave it with me,’ said Jeremy. ‘I’ll find out the latest. Last I heard he was being put under surveillance.’

  Just then David arrived and Kate called the group to order. ‘OK, where have we got to?’

  Emma ran through what they’d been discussing.

  ‘Rafi, do you have anything to add?’

  ‘Only that my sixth sense tells me that time is running out.’

  ‘Thank you for that,’ said David. ‘We
know that there’s a large jigsaw puzzle and we’re missing a lot of pieces. I’d encourage you to embrace lateral thinking. And, Rafi, you should think carefully if anything else could have been a catalyst for Jameel and his associates wanting you out of the way. Could you be back here for a 7 a.m. start, please? I’ve got to go now. I’ll see you tomorrow.’

  Rafi smiled to himself. David had such a nice way of giving orders.

  Kate received a phone call from reception. ‘Anyone expecting a delivery?’ she called out. ‘It’s in reception and I’m told you’ll need a helper.’

  ‘Oh, good,’ said Jeremy. ‘It’s for us – a spot more food from Luigi’s.’

  ‘A spot more food’ turned out to be an understatement. When Rafi saw the spread, he turned to Jeremy. ‘This is more like it.’ Since he had started working in the City, such events had ceased to surprise Rafi. To him it seemed that everything was on tap to help lubricate the wheels of finance and commerce twenty-four hours a day. Emma and Kate, on the other hand, looked a little taken aback.

  They ate as they worked. Rafi and Emma focused on the four companies. They made some progress but couldn’t piece anything together which might help point the investigation in the right direction. They looked at the board of directors, downloaded the company accounts and supporting documents and trawled through their websites.

  By 12.30 a.m. Rafi’s head had had enough. He needed to stop and was discretely shown to a cell by Kate. ‘See you tomorrow morning. I’ll bring you a toothbrush.’

  ‘Thanks.’

  Tuesday had been a gruelling day, but at least he was away from Paddington Green. Sleep came easily for Rafi.

  He awoke to find Kate standing beside him. ‘Good morning. I hope you had a good sleep?’

  ‘Fantastic. I still ache all over, but I’m feeling a hundred times better than yesterday. I can’t wait to say goodbye to this hard bed, though!’