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“On a daily basis.”
“Where does he do his banking?”
“Mainly, he deals with Ellis Gray at JPMorgan Chase. But he also has a relationship with Bank of America.”
“How much debt is he carrying?”
“I’m not sure even Phillip knows the answer to that.”
“Who does?”
“Kenny Vaughan.”
The next ground they covered was Magdalena’s expansion into bricks-and-mortar retailing, beginning with her partnership with Galerie Georges Fleury of Paris and concluding with the recent acquisition by Masterpiece Art Ventures of galleries in Hong Kong, Tokyo, and Dubai. The total number of forged paintings the network had unleashed on the art market exceeded five hundred, with a paper valuation of more than $1.7 billion—far too many works for Magdalena to recall accurately. She was certain, however, that a significant percentage had passed through Masterpiece’s opaque portfolio.
“How many does he currently control?”
“That’s impossible to say. Phillip doesn’t even reveal the genuine paintings in his possession, let alone the forgeries. His most valuable pictures are in his Manhattan and Long Island homes. The rest are in the warehouse on East Ninety-First Street. It’s the equivalent of his trading book.”
“Can you get inside?”
“Not without Phillip’s approval. But a directory of the warehouse’s current contents would tell you everything you need to know.”
Over lunch, Gabriel logged into Magdalena’s ProtonMail account and forwarded several years’ worth of encrypted emails to his own address. Next they reviewed her personal finances, including her account at Masterpiece Art Ventures. Her balance was $56,245,539.
“Don’t even think about trying to make a withdrawal,” Gabriel warned her.
“My next redemption window isn’t until September. I couldn’t if I tried.”
“I’m sure Phillip would make an exception in your case.”
“Actually, he’s quite strict when it comes to redemptions. He and Kenny fly rather close to the sun. If a handful of major investors wereto simultaneously withdraw their funds, he would have to sell some of his inventory or secure another loan.”
“Using a painting as collateral?”
“The art-backed loans,” repeated Magdalena, “are the key to everything.”
Gabriel downloaded Magdalena’s account statements, then checked the tracking information forDanaë and the Shower of Gold. The painting was currently westbound over the Atlantic. It would spend the night in the air cargo center at Kennedy International and was scheduled to reach its final destination, Chelsea Fine Arts Storage, no later than noon on Monday.
A search of the flights from Rome to New York produced several options. “How do you feel about the ten a.m. Delta into JFK?” asked Gabriel.
“That would require awakening several hours before noon.”
“You can sleep on the plane.”
“I never sleep on planes.” Magdalena reached for the laptop. “Can I pay for your ticket?”
“Phillip might find that suspicious.”
“At least let me give you some miles.”
“I have plenty.”
“How many have you got?”
“The moon and back.”
“I’ve got more.” She booked their seats. “That leaves the hotel. Is the Pierre all right?”
