I finally wound up talking to a man named Louis Leeds who told me, after a certain amount of fencing, that Byron Wayne Leopold had indeed been an Illinois Sentinel Life policyholder, that the face amount of the policy had been $75,000, and that ownership of the policy had been transferred on such and such a date to a Mr. William Havemeyer of Lakewood, Ohio.
“Not Texas,” I said.
No, he said, not Texas. Lakewood was in Ohio, and he wouldn’t swear to it but it seemed to him that it was, a suburb of Cleveland. The lake would be Erie, he said.
“And the wood?”
“I beg your pardon? Oh, the wood! Very funny. I suppose the wood would oe oak or maple. Or maybe knotty pine, ha ha ha.”
Ha ha ha. Had the claim been processed? It had. And had a check been issued to Mr. Havemeyer?
“Well, he’s named as the beneficiary, so we could hardly have paid the money to anyone else. And the policy has been retired and noted as paid in full.”
I asked if Mr. Havemeyer was the beneficiary of any other policies. There was a pause, and he said he would have no way of knowing that.
“Ask your computer,” I said. “I bet it knows. Feed it the name of William Havemeyer and see what it comes up with.”
“I’m afraid I couldn’t do that.”
“Why not?”
“Because that would be confidential. Our records are by no means public information.”
I drew a breath. “William Havemeyer was the beneficiary of Byron Leopold’s insurance. He wasn’t a friend or a relative of the insured. Leopold sold him the policy.”
“That’s called a viatical transaction,” he said. “It’s perfectly legal. We don’t entirely approve of them, but in most states the owner of an unencumbered insurance policy has the legal right to transfer ownership in return for a financial consideration.”
He talked about the company’s requirement that prior beneficiaries be notified, and such complicating circumstances as insurance coverage stipulated in a divorce settlement. “But I don’t believe any of that applies in the present circumstance,” he said.
“Suppose William Havemeyer has participated in more than one viatical transaction.”
“It strikes me as an unpleasant way to seek a return on capital,” he said, “but there’s nothing illegal about it.”
“I understand. Suppose other persons of whose insurance he was the beneficiary also died violently.”
There was a pause almost worthy of Gary down in Arlington. Then, slowly, he said, “Do you have reason to believe…”
“I’d like to rule it out,” I told him. “And I should think you’d like to rule it out yourself. I understand there’s an ethical line here, but it’s certainly not unethical for you to check your records. After you’ve done that, you can decide whether or not to share your findings with me.”
I had to repeat that a couple of times, but eventually he decided it was safe to ask his computer for information, since I wasn’t there to peek over his shoulder at the screen. He put me on hold, and I listened to elevator music interrupted at all-too-brief intervals with plugs for the peace of mind provided by coverage from Illinois Sentinel Life.
He came back right in the middle of one such announcement. Mr. William Havemeyer, he was able to assure me, not without a tone of triumph, was known to Illinois Sentinel Life solely as the beneficiary of the late Byron Wayne Leopold. He was not insured himself by the company, nor was he either the policyholder or the beneficiary of any other ISL coverage.
“I feel it’s all right for me to tell you this,” he said, “because I’m not actually imparting any data. I’m simply confirming the absence of such data.”
That was true enough, and I thanked him and let it go at that. I didn’t see any point in telling him that a failure to do as he had done would have confirmed the opposite; if he’d come back and refused to tell me anything, he’d have been telling me quite a bit.
Always the beautiful question…
* * *
“I don’t get it,” I told Elaine.
“The appeal of viatical transactions? It’s not hard to understand from a dollars-and-cents standpoint.” She jotted down numbers on a pad. “The big plunger in Lakewood paid out just over fifty-six thousand, and in less than a year he collected on a seventy-five-thousand-dollar policy. What kind of return is that?” More numbers. “Almost forty percent. Can that be right? Yes, it can, and actually it’s more than that, because he didn’t have to wait the full year.”
“He’d have paid more than fifty-six grand,” I pointed out. “Viaticom had to make something for their troubles. They’re the ones who put the whole thing together. My guess is that they must have taken a minimum of five thousand dollars off the top before they wrote out their check to Byron.”
“So if Mr. Lakewood—”
“Mr. Havemeyer.”
“If he paid sixty and got back seventy-five that’s a return of what, twenty-five percent per annum? And he got it in less than an annum, and even if he’d waited a full two annums that’s still better than the banks give you.”
“Would you invest in something like this?”
“No.”
“It didn’t take you long to answer that one.”
“Well, I don’t have any moral objection to it,” she said. “And the men at the hospice pointed out that it’s a real boon to the people with AIDS. So I think it’s a good thing that other people are doing it. But it turns my stomach.”
“The idea of sitting around and waiting for somebody to die.”
She nodded. “And trying not to be irritated when they go on living, and trying not to jump for joy when they die. I mean, screw all that. Or don’t you agree?”
“No, I agree completely.”
“It may be a great investment,” she said, “but not for me. The higher the return, the worse I’d feel about the whole thing. I think I’ll stick to real estate. And thrift-shop art.”
“I’m with you,” I said. “But that’s not the part I don’t get. Say you’re Havemeyer.”
“Okay. I’m Havemeyer.”
“You’ve bought a policy on a dying man. You paid, round numbers, sixty thousand dollars. According to medical science, you’ve got a max of two years to wait before you collect seventy-five thousand.”
“So?”
“Why rush things? Why would you come to New York and shoot down a man on a park bench? Why go through that to get the money a few months sooner, or even a whole year sooner?”
“Unless you needed the money right away…”
“It still doesn’t make sense. If you need cash that urgently, the policy’s an asset. There must be a way you can borrow against it, or sell it to one of Viaticom’s other investors. And if you just want to increase your profit, well, I can’t see it as a motive for the taking of a human life. You’re still getting the same seventy-five grand. You’re just getting it a little earlier than you would otherwise.”
“Time is money.”
“Yes, but it’s not that much money. And people who want fast money bad enough to kill for it aren’t investing in insurance policies, anyway. They’re out there robbing banks or dealing coke.”
“Maybe Havemeyer didn’t do it.”
I shook my head. “It can’t be a coincidence,” I said. “He just looks too good for it. What do we know about the murder? It was an amateur effort committed by a stranger who knew the name of his victim and said it out loud to confirm his identity before shooting him. That sounds to me like a perfect fit. There’s even a motive.”
“Money, you mean.”
“Right. And all along this case felt to me like one with a financial motive.”
“Your dream,” she said. “Remember? Too much money.’”
“Uh-huh. And now it’s turned on its head, because as a motive it strikes me as too little money. It’s just not enough to kill for.” She started to say something and I held up a hand to cut her off. “I know, people get killed every day for chump change. Two guys bu
y a bottle of Night Train and argue over the change, and one stabs the other. A mugger shoots a guy who was trying to hang on to his wallet and takes five dollars off the corpse. But that’s different. The people who commit crimes like that don’t have sixty thousand dollars to invest. They don’t live in suburbs in the Midwest and fly to New York to kill strangers.”
“That’s not what I was going to say.”
“Oh.”
“I was going to say it’s not enough to kill for if you just do it once. But if you take the proceeds and buy another policy—do you see what I mean? If you wait for nature to take its course, you get your twenty-five-percent return in somewhere between one and two years. But if you speed things up and get it in four or five months, and then buy another policy and repeat the process—”
“You’re making your money grow rapidly.”
“But you still can’t see it.”
“Not really,” I said. “Anyway, aside from that one policy, Illinois Sentinel Life never heard of Mr. Havemeyer of Lakewood. So if he’s done this before it’s been with other companies, and I couldn’t even begin to look for his traces. How many insurance companies are there in the country?”
“Too many.”
“TJ would tell me it’s possible to hack your way into some insurance company computer network and learn everything you could possibly want to know without leaving your desk. And maybe it is, if you’ve got the Kongs’ expertise and a few thousand dollars’ worth of computer equipment to play with, and if you don’t mind committing felonies left and right. In the meantime—”
“He didn’t purchase a policy issued by, what was it, Illinois Sentinel?”
“That’s right. So?”
“But he may well have participated in other viatical transactions involving other insurers. Wouldn’t he have gone through the same broker?”
“Oh, for God’s sake,” I said. “Why didn’t I think of that?”
20
I called Viaticom a few minutes after nine the next morning and got a recording advising me that their office hours were from nine to five. I looked at my watch, frowned, and then remembered the time difference. It was an hour earlier in Texas. I waited an hour and called again, and the woman who answered was the same cowgirl who’d put me on hold the day before. I asked for Gary and she wanted to know my name. I gave it to her, and she put me on hold again.
I was there for a while. When she came back on the line to tell me that Gary was out, her voice was different, thick with suppressed anger. She didn’t like having to lie, and she was irritated with me for putting her in such a position.
I asked when she expected him. “I’m sure I don’t know,” she said, angrier than ever.
I went through the motions, giving her my number although she hadn’t bothered to ask for it, asking that she have Gary call me as soon as possible. I didn’t think he would, and a little before noon I stopped waiting for his call.
Nancy Chang at the Chase had wondered if I’d have to go to Arlington. Or could I let my fingers do the walking? My fingers didn’t seem equal to the task, but that didn’t necessarily mean I had to get on an airplane.
I called Wally Donn at Reliable. We’d spoken briefly after the Whitfield-as-Will story broke, and he said now that he still couldn’t get over it. “The son of a bitch,” he said. “You know what he did? He hired us to protect him from himself. And we wound up looking bad when we couldn’t do it. And now we look worse than ever, because we were right next to him and didn’t have a clue what was going on.”
“Look on the bright side,” I said. “Now there’s no reason in the world why you can’t bill the estate.”
“Which I’ve already done, and don’t think I didn’t pad it just a little to cover the aggravation factor. Now the question is will they pay it, and I’m not holding my breath.”
I asked him to recommend a PI in the vicinity of Arlington, Texas, and he came up with a fellow named Guy Fordyce. He was based in Fort Worth, with an office on Hemphill.
“Wherever the hell that is,” Wally said.
I reached Fordyce. He sounded gruff and competent and said he had an open slot the following morning. “I could try calling him this afternoon,” he said, “but I can’t see why I’d have any better luck than you did. Be more effective if I walk in unannounced.”
He called the next day around noon. I was out at the time and got back to find his message on my machine. I called his office and got someone who said she’d beep him. I waited, and a few minutes later the phone rang and it was him.
“Slippery little prick,” he said. “I made a couple of calls yesterday just to find out who I was dealing with, and what I learned about Gary Garrison didn’t make me yearn to go bass fishing with him. The consensus is that what he’s doing with this viatical shit is legitimate enough, but there’s something about the whole deal that makes the average citizen want to puke.”
“I know what you mean.”
“And Garrison himself has a checkered past. He sold penny stocks for a while and got sued a few times and had to face criminal fraud charges on two occasions. Charges dropped both times, but that’s not the same as saying he’s squeaky clean.”
“No.”
“There’s been some pressure locally to either outlaw these viaticals or regulate the shit out of them. Meanwhile, Garrison’s doing a hell of a business, and his end of it’s higher than a middleman’s probably ought to be. That’s one of the things they want to regulate.”
“I figured he was making out all right for himself.”
“You bet he is. So he’s in a funny position, wanting publicity because it means more sales and looking to keep a low profile for fear that the regulators are going to regulate him right out of business. And even if this particular operation’s honest, the man’s used to being a crook, so it’s second nature for him to weasel out of answering a direct question.”
“One of nature’s noblemen,” I said.
“Oh, he’s a prince. I let him start out thinking I was an investor, and then he just might have formed the impression that I was an investigator from a state agency I didn’t get around to naming, and he got real cooperative. He’s done business with your William Havemeyer three times in all. The transactions involved policies with three different insurance companies.”
He gave me names and addresses and dates and numbers. In addition to Byron Leopold, the men in whose lifespan William Havemeyer had a vested interest included a San Franciscan named Harlan Phillips and a Eugene, Oregon, resident named John Wilbur Settle. Phillips was insured by Massachusetts Mutual, while Settle’s coverage was with Integrity Life and Casualty.
“Life and casualty,” I said.
“Yeah, they go hand in hand, don’t they? I regret to say I don’t know what’s become of either of these gentlemen. Garrison can’t say if they’re alive or dead. He doesn’t follow up. Once the policy’s changed ownership and the transaction’s completed, it’s out of his hands.”
“It won’t be hard to find out the rest of it.”
“Just make a few calls.”
“Right.”
He told me what all of this was going to cost me, and said he’d put a bill in the mail. The price seemed reasonable enough, and certainly came to a good deal less than what I would have spent flying there myself. I told him as much and thanked him for his efforts.
“Any time,” he said. “Mind if I ask what you think you’re looking at here? Is your boy Havemeyer setting these people up and knocking them off?”
“That’s the way it feels,” I said. “But it all depends on what I learn from the insurance companies.”
“That’s a point. If Phillips and Settle are still alive and taking nourishment, that’d weaken the theory some, wouldn’t it?”
But they were both dead.
I got excited at first. I had a line on a serial murderer, I knew his name and where he lived, and nobody else in the world even suspected he existed. I got a rush right in the old ego. When I brok
e this one I’d have the media dogging me again, and this story would be national, not just local. Maybe, I thought, instead of slipping out the service entrance I ought to meet the onslaught head-on. Maybe I should welcome the attention and make the most of it.
Amazing what a mind can do if you give it half a chance. In less time than it takes to tell about it I had myself guesting on Letterman and doing a cameo on “Law and Order.” I could see myself sitting across the table from Charlie Rose, explaining the workings of the criminal mind. I just about had myself racing around the country on a book tour before it struck me that the deaths of Harlan Phillips and John W. Settle weren’t quite enough to get William Havemeyer indicted for murder.