Not sure if this is helpful but saw this posted elsewhere and thought it might help some with that confusing exchange last night with all the names.
Casper (the dead guy from the beginning), Burris (the guy who just shot Woodrugh dead at the end of the episode), and Holloway (the black guy who just met with Woodrugh and is the police chief) all took part in a diamon heist back in '92. They're all in higher positions of power, but still engaging in corruption.
Fast forward to today and they want the diamonds that Caspere still had now that he's dead. Caspere was killed because he was potentially involved with blackmailing all the important people at those sex parties.
Frank has been getting set up since the beginning and every move made by Bezzeredies, Velcoro, and Woodrugh has been watched.
The scene in last night's episode when Velcoro went to meet up with the lady but Ray found her dead in her car got me thinking. And then you said that every move Bezzeridies, Velcoro, and Woodrugh made was being watched. That kinda gives me some clarity of why Ray found her dead. So I'm really interested in finding out who is watching them; is there someone that is presumed a good guy but just relaying info to Burris and Holloway?
This whole season has been confusing to me and it didn't start coming all together until last night. Season 1 was a whole lot easier to follow from start to finish