Red Shark

“Christ, one of those Bushido devotees,” Scott said. “Doesn’t surprise me. You?”

“I suppose not, given what we know about him.”

Scott got up and paced the tiny apartment. “What businesses does he — Meji — own?”

“Just about everything. Electronics, communications, shipbuilding, steel, airlines, even a high-tech facility in Vladivostok.”

“So what connection does he have to North Korea, to Marshal Jin? Did you see anything in the file about that?”

“No, there was nothing.”

“Then, what possible reason would he have to finance a North Korean nuclear attack on the U.S.? What proof is there that he would?”

“Jake, he’s divested Meji of almost all of its holdings in the United States. For instance, according to the SEC reports I saw, there’s been an extraordinary level of activity in stocks owned by Meji: Billions of shares have been sold and apparently converted to yen. The Federal Reserve also reported large-scale liquidation of dollars and their conversion to yen, along with holdings in bonds and other corporate financial instruments.”

“How many brokers has he worked through? Any idea?”

“Just a few. Big ones, mostly in New York. Tokugawa held positions in only five names, didn’t spread it out, and as a result it was easier for the SEC’s Stock Watch to track and report it. Of course there’s nothing illegal about what he’s done. On top of that, Tokugawa has converted over three billion dollars to yen, which he deposited in JGBs — Japanese government bonds. He’s stockpiling cash, Jake, any way he can.”

“In yen, not dollars.”

“That’s right. As for Meji’s real estate, it appears that he’s decided to take out the equity in over twenty properties owned in New York, Chicago, and Washington, D.C. Overnight he’s refinanced them, converting their equity into yen, but leaving his debt in dollars. And get this — if he wants to, he can later go back into the real estate market with inflated yen and buy it all back for far less than what he sold it for.”

“So he’s suddenly a high liquidator; he’s getting out of U.S. markets; he’s reducing his exposure. Why?” Scott said.

“Because he thinks—”

“Because he knows that the U.S. financial markets are about to collapse. And why does he know? Because his North Korean friends must have a plan to attack the United States with nuclear weapons.”

“But why would he help the North Koreans?” Fumiko said. “I mean, how would he help them? What are his motives?”

“I was told the North Koreans have nuclear warheads sitting on the border south of Vladivostok, where Tokugawa has high-tech facilities. I’m no expert on nukes, but maybe he has people who can weaponize those crude nukes into miniatures for launching from missiles. Right now there’s a debate going on in Washington about whether or not to take out those weapons.”

Fumiko shook her head in disbelief. “Jake, if they do, it will solve nothing. The NKs have more warheads hidden in sites all over North Korea.”

“But not suitable for launching by missile. Didn’t you tell me Tokugawa and the association members offered to finance and build a nuclear arsenal for Japan? Maybe he can do it, at that.”

“Jake, that doesn’t make sense, does it?”

“I don’t know.” He ran a hand through his hair. “I really don’t.” He felt confused and totally out of his depth, and he knew he was grasping at straws.

“Motive, you said he had to have a motive.”

“Revenge. His father, family. But maybe there’s something else, something much more powerful driving him — a chance to make Meji Holdings the biggest player in all of East Asia, including a future North Korea and maybe the West, too. The coup in North Korea would be the perfect cutout for Tokugawa to use to take control of the entire financial structure of Asia and maybe the U.S. Think about it, if the U.S. collapsed after a nuclear attack, say on New York, Chicago, or Washington, who would be there to pick up the pieces?”

“Meji Holdings. Iseda Tokugawa.”

Scott considered, then said, “What ties has he had to North Korea in the past?”

“Very few. Deliveries of food from his agri-businesses in Malaysia and Vietnam. A prototype synthetic fuel plant in the north near the border with China. Deliveries of heavy earth-moving equipment from plants he owns in Cambodia.”

“A drop in the bucket compared to what he may be after now.”

Fumiko took a deep breath. “I don’t want to believe any of this, Jake, I really don’t.”

“Who does?”

“How can we prove it, and who do we tell?”