Chapter 11 — It's Too Late, Doctor Vu

A small restaurant hidden in an alley in the Old Quarter, with just a few simple wooden tables, far enough away from the hospital area that no one in the medical or financial world could accidentally stumble upon it and ask unnecessary questions - that's where Dinh Vu chose to meet Dang Khac Son on the weekend, a classmate during high school before each of them turned to different career paths, and is now a corporate finance analyst for a domestic investment fund. The owner, an older woman who knew them both from when they were students and often stopped by to eat after extra classes, welcomed them with a toothless smile, clearly remembering without asking again the food they ordered in the past.

"It's been a long time since I've seen you call me in the middle of the week like that." Khac Son smiled and poured tea for you. "It must be something very important, our busy star doctor."

Dinh Vu forced a smile at the joke that accidentally touched on the feelings he was carrying, then got straight to the point, not wanting to prolong the social conversation when his mind was heavy with so many things that needed to be answered.

"You said you want to learn about the share structure and voting rights in a private hospital that is preparing to receive foreign investment?" Khac Son asked again after hearing Dinh Vu present his request vaguely, deliberately not naming Anh Duong Hospital. "That sounds pretty specific, not like a typical general research question."

Dinh Vu hesitated for a moment, then decided to trust his old friend, briefly recounting the situation without going into personal details. "I need to understand, in the case of a foreign investment fund pouring capital into a family hospital that is being operated by a board of directors with many members holding different shares, how the dilution of shares will affect the power of each individual on that board."

Khac Son nodded, took out a piece of paper, and began drawing an illustrative diagram while explaining. "Basically, when new investment capital is poured in, the investment fund will often require a corresponding percentage of shares, resulting in the ownership ratio of existing shareholders being diluted accordingly. If a certain shareholder is holding a large enough percentage of shares to have the right to veto some important decisions, dilution can cause them to lose that power permanently, especially if the new investor requests a seat on the board of directors or special voting rights as a condition of investment."

"So if such a shareholder wants to block the deal, but cannot publicly object because of pressure from a majority of the board, what can they do?" Dinh Vu continued asking, his eyes glued to the diagram on the paper.

Khac Son pondered for a moment, then replied. "There are several possible scenarios. One is that they can mobilize other shareholders to protest, but this requires convincing the majority and easily exposes their intentions. Two, they can find a way to delay the deal through legal procedures, but this is also difficult to keep secret. And three, the most dangerous and unpredictable way - they can create an unexpected event serious enough to cause investors to withdraw or request to renegotiate the entire terms, thereby creating an opportunity. so that they can consolidate their position in the context of chaos, and maybe even come to the 'rescue' of the situation to regain greater control than before."

Dinh Vu sat silently, Khac Son's words were like a ray of light illuminating the entire picture that he had been trying to piece together for many days. "If that incident involved a personal scandal involving an important person in the hospital — say a doctor with an iconic role in the communications strategy — would that be enough to shake up the deal?"

"Absolutely possible." Khac Son nodded firmly. "Investors, especially funds that value management and brand reputation, are very sensitive to scandals that can affect the public image of the organization they are about to invest capital in. If at the time of appraisal a scandal occurs related to a key representative, they can completely request a pause, renegotiate valuation, or even withdraw completely if they feel the management risk is too great. And in that chaotic situation, who has the information and who has it available? 'stabilize the situation' option, that person will have a superior negotiating advantage over other confused council members."

The meeting ended, Dinh Vu thanked his old friend and left with a heavy heart but also clearer than ever. Vuong Ba Khiem's entire motive was now almost completely clear in his mind - if he was holding a significant proportion of shares but was afraid of diluting his power after foreign investment capital poured in, staging a scandal related to Dinh Vu's "single star doctor" image right at the time the appraisal team was present would be a perfect move - both causing enough chaos to delay or slow down the progress of negotiations, while also creating an opportunity for him demonstrate the role of "crisis solver", thereby consolidating power and being able to renegotiate investment terms in a way more favorable to their faction.

On the way home, Dinh Vu called Phung Dac Nguyen and told him everything he had just learned.

"So we have a motive, evidence of unauthorized access to the camera system, and the identity of the woman involved." Nguyen spoke over the phone, his voice serious. "But this evidence is still quite indirect, not enough to confront Vuong Ba Khiem directly or publicly before the Board of Directors. He can completely deny it, blaming technical errors or coincidence."

"I know." Dinh Vu replied, his voice was low but not wavered. "We need to find more direct evidence — perhaps Vuong Tuyet Nhung's own testimony, or evidence of communication between her and Vuong Ba Khiem regarding this plan. That will be the next step I need to take, although I know it will be much more difficult and dangerous than what we have done so far."

"Be careful, Vu." Nguyen repeated the old warning, but this time his voice carried a deeper concern. "If Vuong Ba Khiem realizes that you are getting close to the truth, he may not sit still. A person who has planned this carefully, will definitely have a plan to deal with it if he feels threatened."

"So we need to be more discreet." Dinh Vu replied, his voice was calm but decisive. "From now on, all communication between us should only be done in person, not through text messages or emails from the hospital. I also will not reveal any signs that I am investigating in front of Vuong Ba Khiem or anyone on the Board of Directors. We need time to collect enough evidence before he can realize and erase all remaining traces."

"Agree." Nguyen replied. "I will continue to ask my acquaintances to monitor more unusual transactions related to Vuong Tuyet Nhung's account to see if I can find any more clues about the money she recently received from Vuong Ba Khiem. Sometimes cash flow is the hardest thing to hide."

Dinh Vu did not answer immediately, just looked out the car window, where the city lights passed by in the darkness. He knew his friend was right, and in his heart, he also felt that this war had only just begun, there were still many thorns and dangerous blows ahead waiting for him, along with the people he loved, to overcome together.

When he got home, he spent the evening sitting at his desk, sketching out everything he had collected into a coherent summary—times, places, names, connections. He understood that if he wanted to convince anyone, including Lam Nhi herself, he needed to present the truth as systematically and completely as possible, not just discrete speculations. He also started thinking about approaching Vuong Tuyet Nhung in some way, although he didn't know exactly where to start, because approaching directly could make her wary and immediately notify Vuong Ba Khiem, ruining the entire plan before getting the necessary evidence.

Outside, the city was still immersed in the rhythm of daily life, no one was aware of the underground waves rolling behind the doors of the luxurious meeting rooms of Anh Duong Hospital. Dinh Vu turned off the desk lamp at midnight, but before going to bed, he lingered by the window looking out at the dark lake for a long time, telling himself that every day that passed without the truth being revealed was a day that Lam Nhi and baby Mien still had to live in misunderstanding and hurt, and that was something he did not allow himself to delay any longer.