Currently viewing and reading

Related Post

Subscribe
Notify of

This site uses Akismet to reduce spam. Learn how your comment data is processed.

24 Comments
Inline Feedbacks
View all comments
Jason
13 years ago

“Personally I hope he cuts a deal and rolls on this bitch.”

Well put. There’s not enough rolling going on in this world.

Jason
13 years ago

Oh look – CFO picked up on the news. They are of course slanted to the CFO angle and probably don’t care about the rest of the details, but nonetheless:

http://www.cfo.com/article.cfm/11316432?f=search

Commentor
13 years ago

All you’ve said may be true but didn’t McLamb have any ethics? If it was a demand placed on him by Clifton than why not walk away? I agree that he was somehow being compensated. How interesting that he is selling his home for >$800K when he only purchased it in 2005 for <$700K. Does he not realize the real estate market is in slump? Hmmm his math skills must not be very good! No matter what comes out of this he deserves to be punished strongly. He and Clifton took responsibility to properly manage other companies taxes, benefits and retirement plans. No one should do what they have done and walk away with just a slap on the wrist

ifuonlynew
13 years ago

What’s your point? McLamb’s home is in pre-foreclosure. Want to talk about real estate? Look at this link to Clifton’s Florida propery for sale in Palm Beach. She bought it for $3.3m.

http://www.metacafe.com/w/1096567/

Commentor
13 years ago

Does anyone think these two (and others?) will ever see a jail cell? Sounds like McLamb is cooperating (rolling over on others)so I sure hope this doesn’t persuade the judge to give him any special treatment.

And to “ifuonlynew”…wow that clip to Clifton’s FL estate is unreal. Really makes me wonder where the $$ went. Interesting you say McLamb’s home is in pre-forclosure…wonder why he’s not trying to sell for any cost instead of overpricing it….do I hear “greedy” said again.

13 years ago

McLamb plead guilty today, as seen in the N&O:

http://www.newsobserver.com/business/story/1094233.html

Here’s a quick quote: “He spoke little at Monday’s hearing before Magistrate Judge David W. Daniel at the federal courthouse in Greenville. He did say that “because of all this, I am suffering from depression” and taking medication.”

Yes Jay, it’s all about you. Nevermind those folks with frozen 401Ks – they’ll get over it, right? Your depression is what we’re all worried about. Ugh

livestrong
13 years ago

I knew some people that worked for her other company which is run by her son and it doesn’t seem like he is any better at business. They said that he did nothing more than stare out his window and take credit for other people’s hard work. I’m sure that when the spotlight turns to her other company the first thing he will do is find himself a scapegoat as well.

Employees beware! These people will never take responsibility and it will always be someone else’s fault.

Jay's Wife
13 years ago

To Depressed, you are an idiot. I must speak out because public ignorance and assumptions are getting the best of me. The only reason he commented on the medication piece is because he was asked by the judge, under oath, if he was currently taking any medication and for what reason. Would you have lied, and because you answered the question honestly, does that mean “it’s all about you”? Jonathon Cox, reporter for N&O thought the depression piece was the only part worth reporting. And furthermore, he has been on the depression medication for the last few years to help with “keeping it all together” as long as he did (3 years worth). And for the record, the 401K’s were fully funded the entire time my husband was employed there. He truly cared for the clients and unfortunately made decisions to fund the 401K’s, the health insurance plans rather than taxes because he knew the immediate horrific impact it would have on “real people”. Obviously little do you know he sacrificed his own freedom for all these people that you say he never cared about. Perhaps the spouse that suffered a brain tumor is now healthy and well, the child with leukemia is resting soundly in his bed, both insured over the last 3 years because my husband chose to fund health plans instead of taxes when faced with those kinds of decisions while OUR children, ages 9, 13 and 15 will lie awake wondering about their father as he sits in a prison cell. Does that make you happy? You do not know all the facts nor will you ever know all the facts unless you are an investigator or Jay’s attorney. I hope you never get in such a position. And finally, as the Bible says, “Let he has not sinned cast the first stone”.

Calling all Martyrs
13 years ago

Sonya, if that is the story that Jay has fed you and you are hanging your marriage and sanity on, I’m so sorry. Let me reiterate what I think you are saying. The company was running out of money so Jay decided to shortpay the taxes in order to fund the health plans and 401(k) because “he truely cared about the clients” and “knew the immediate horrific impact it would have on ‘real people.'” I’m going to have to call BS on this. The reason the health plan and the 401(k) continued to be funded was because it would tip off people that there was no money. It takes the feds a while to figure out what happened and it would buy time. Health claims are paid weekly and 401(k) is funded at least monthly. The vendors would have said something to their internal contacts and that would have done him in.
So far, my explanation is just another version of why he did it. But let me tell how it makes more sense than his version. If he truely TRUELY cared about the clients, and the child with leukemia, and the spouse with a brain tumor, he would have terminated the health insurance coverage when there was still money in the plan. Yes, the company would have lost clients but it would have given the parents of the child with leukemia or their employer time to find an insurance plan that actually had money to pay the claims. Now, they are stuck with medical bills that they paid Castleton insurance premiums for. Along with many other people. It is sad that he has put his family in the position he has. But in the end, this was a choice HE made and he deserves to go to jail for it. He should have worried about his family instead of his pride.

Jay's Wife
13 years ago

Martyrs…again you know not of what you speak. But…you are entitled to your opinion. You also act as if you know me because you call me by name. Don’t be such a coward next time and reveal yourself. I’ll be happy to talk with you anytime. And finally I’m not “hanging onto my marriage nor my sanity” as you have suggested. I am merely taking care of my family during a difficult time as best I can. Should have have known better to make a public statement because my gut told me in a few days you would come back with some insensitive, smart a$$ comment. Jay may go to jail, but there’s a hot place down below waiting for YOU some day.

Wright
13 years ago

Jay’s wife –

I truly feel empathy for your situation. It must be tremendously emotional and challenging to have to deal with your life turning upside down, especially for something you didn’t do. I wish you all the strength and luck in taking care of your family during this difficult time when it seems so many people are against you.

We all have messed up. But there have been so many people affected by Jay and Suzanne’s actions. It seems as if you really love your husband, but it’s more than a little bit of a stretch to believe he underpaid $8 million in taxes because he was looking out for the greater good. I could see a month or 6 months, but 3 years is a long time. The bottom line is that the company didn’t deserve to be in business, and robbing Peter to pay Paul did not do any good. The end result is that employees’ health claims weren’t paid, 401k’s are frozen, and the IRS could go after small businesses for taxes they already paid. That would likely affect all the little people out there in some way, shape or form.

Maybe you and your family had money previously, but if your house was really purchased in 2005 for that much money — that’s when all this tax stuff supposedly started. If I were your husband and I knew my company was in trouble, I would think I might be a little more conservative with decisions like that. It makes it hard for people to understand that he was really sacrificing. But maybe there’s more to that story.

Anytime something like this happens to so many people, everyone will want to assign blame. Ultimately, Jay really messed up, but I don’t think he holds most of the responsibility. It has to lie with the person ultimately in charge and the person that benefited the most from doing the wrong things. Even if Jay did the deed, and even if Suzanne didn’t know – she should have known. She did not create a company that lived up to the promises she made. If she is not punished as much or more than Jay, that will be a real shame.

Commentor
13 years ago

Well “Jay’s Wife”, or is it Jay himself, looks like the NC State CPA Board doesn’t have much faith in your husband’s treatment of the “real people.”

http://www.newsobserver.com/business/story/1157461.html

I must say though you really knew how to live the high life to now claim $8.1 million in liabilities. Guess being a stay at home mom, the big house, fancy decorating, NCSU & Hurricaines season tickets, limos, etc must have been fun while they lasted. Oh yes, but at the same time having to take anti depressants to “keep it together”. Maybe it was the home life that forced poor Jay to stay at Castleton and not walk away like most

I eagerly await the supposed downfall of the other Castleton conspirators.

Hope Jay enjoys his “a$$” in prison. tsk tsk such language for a lady to use.

Jealous?
13 years ago

8.1 mil included potential payroll tax liabilities; wife stay at home mom years before Jay worked at Castleton, no Hurricanes tickets, no limos.

Get your facts straight, commentor. You must live a sad life.

ImNotGoingToJail
13 years ago

Suzanne, Jay and other senior staff at Castleton have been on the shady side for a long time. One of the first breaking news stories in the N&O pointed out the allegations of wiretapping, which in hindsight sure seem to be true.

Suzanne clearly paid herself too much money even when the company was losing money. Money from the company till was used to pay all kinds of personal expenses. Just look at the three houses, boat, and probably lots of other stuff.

Call it whatever you want — that’s just stealing.

QSP, Inc.
12 years ago

There seems to be a pattern here. When Jay was CFO at QSP, Inc. in 2001, they went bankrupt as well. I wonder how much money he helped himself to over there before they winded down.

To QSP Inc. Idiot
12 years ago

QSP went into receivership in the U.K. which forced the U.S. operations into bankruptcy. Jay had no control over the parent company in the U.K. and the U.S. operations didn’t exist without the U.K. You are so ignorant…it is very clear where all the millions from Castleton went…into Suzanne’s pockets and ESG’s pretty boys’ allowance.

Sad4all
12 years ago

How very very sad this entire situation is going. No one is ever accountable for their actions, it is always someone else’s fault. And yet, these are the people who are only talking about how they are hurt! Trust and integrity have gone by the wayside. Two people who made extremely bad choices!! One by the lure of money and all things that she never had before. To be welthy, elite, have the best. Suzanne, you are just a small town girl who just so desparately wanted to be accepted. You were, but only for the wrong reasons. You made it in the world of big money. Was it truly worth it to bring about the personal pain you did for those employees you represented. Was it worth it to see what you did to your son. How can a 42 year old be 10 million in debt except for the poor example set by his mother! What about the other son?? The other family members?? I hope and pray in your future, you take ownership of your actions, good and bad. I deperately want world hunger to end, but my wanting alone is not enough!

Jay, my prayers are with you and your family. There is absolutely no excuse for your actions. What happened to your personal integrity. Did you really think it would not come to light! The moment we take that step on the slippery sloap, it is hard to turn around. When you realized something was going wrong, your responsibility was to blow the whistle and walk away! You enabled Suzanne to continue hurting others. What example did you set for your children. It really doesn’t matter what story you tell. We alll have life choices to make. Sadly, in your profession, you could have found another job immediately! What seduced you? And now, what will you do after jail time?? Was your personal integrity worth it?

Good can come out of all things if we all make the right choices…Suzanne and Jay. 66 and 42, it is never to late to learn life lessons!!

Jay's Wife
12 years ago

I know I shouldn’t even comment, but Sad4all, you’ve made the most sense of all the comments I’ve seen. I think you are right on many accounts. I too, have asked myself, “What happened to Jay’s integrity”? I, more than anyone else, can tell you Jay had always been a man of the highest morals, ethics and integrity until this tax issue came along. I was shocked more than anyone when all this came to light.

I am more of a realist than most people I know, so believe me, Jay has had to answer some very hard questions for me. In the end though, I know Jay is still a man of integrity, morals and ethics. He is extremely remorseful for the decisions made to “buy time” to try to “save the company” – this I KNOW. He had no malicious, selfish intentions, and had he known how many people in the end would have been devastated by this action, I know different choices would have made. And certainly, had he really understood he could go to jail, I KNOW different decisions would have been made. He is one of the most loving, caring fathers I know. He wouldn’t have knowingly risked being away from them at such critical times in their lives.

Call Jay STUPID if you’d like – trust me, I have. But I do understand the shoes in which he walked to have been involved in making that first poor decision. I also know I would have made the decision to walk away, regardless of what price I would have to pay in the short run of finding new employment and dealing with the wrath of the mighty Suzanne Clifton setting out to destroy him personally (Just ask, Kathleen Fleming, Scott Secor, Mick Carver, and many others who have contradicted her in the past). Unfortunately, Jay is not natured like me, nor possibly you, but I know why he involved himself in the decisions that were made. Have I been angry – yes I have – because in the end, his involvement in the poor choices to “buy time to try to save the company” ultimately benefitted no one but Suzanne. Believe me, she is the LAST person he was trying to benefit! He truly does feel sorry for the ultimate victims, employees and clients, and is truly remorseful.

One thing I wish people could understand is that the very same thing would have happened to Castleton, probably sooner rather than later, with or without Jay. Jay knows he used bad judgement but he has shown his ethics many times since this became public. He has admitted his actions from Day 1 when he acknowledged the true situation. (He was not CAUGHT by Suzanne, auditors, nor anyone else). He made it known when he knew there was no more time to stall the IRS payments and no money to pay it with. These are the cold hard facts! Jay has cooperated fully, been open and honest with our 3 boys from the very first publicity of his actions, and taken responsibility for his actions. He hasn’t tried to hide, he hasn’t tried to blame anyone else – even to his sons – and has stoically handled having to turn in his Surburban, filing personal bankruptcy, public humiliation, loss of his CPA license, losing his home(yes it’s been reported we twisted some things around on the house – NOT TRUE! We owed $750K on it, had a tax value of $759K and we sold it for $598K). The only benefit in this and a foreclosure would be to allow me, his wife, the ability to buy a house sometime later in my lifetime (if I’m ever in a position to do so). If it hadn’t sold at $598K it was going into foreclosure. For me, that was a blessing from God. If anyone out there has problems with our buying a house at that amount to begin with, let me review your debt to income and publicly state my opinion about it. And finally, Jay has to face the reality that he will spend time in jail. Imagine how hard that must be for a person who has never even known anyone who spent time in jail; he has only ever had one speeding ticket and that was 20 years ago. It is so foreign to my family but we are having to deal with just that reality.

Whether Jay is to blame or not, my sons and I are the real victims on this part and we are innocent. Jay is having to live with this guilt and will for the rest of his life. But I know in my heart, there is at least one other person who should feel as much of this guilt as well.

Trust me, Jay has been punished severely already. For some, I’m sure nothing less than an old-fashioned hanging would suffice. But our entire family is trying to prepare ourselves for jail. God be with us and my boys will survive emotionally and physically. Jay is taking his beating like a man.

As for Suzanne and her issues, I will not comment.

Sad4all
12 years ago

For Jay’s wife, please be assured that my prayers will always be with you, your family, and Jay. I will say that I admire Jay for telling the truth. It is necessary for him to pay the price for his part in all of this, but again, good can come out of all things! I do not know the details of how this came to light, only what I have heard from people locally. I am however well aware of the other people involved. Sad to say, personal greed and power overrode all other things. I am also well aware of the anger, greed, and need for power that Suzanne constantly exhibited. Someone without a strong nature would have a hard time standing up to her, because believe me, she would do everything she could to destroy him!

Jay has not been destroyed, he has been given another chance! Maybe not the one he had in mind at this time in his life, but all is not lost, not the things that value most! Prayers will take all of you through this.

As for Suzanne and her family, regardless of what she says, she cannot hide the truth from God. Death is an equlizer for all of us! Pride always goes before a fall!

nomatch.com
12 years ago

Does anyone know where Swanky Suzanne and Executive Staffing Group went? Looks like they packed up and ran from their palatial offices off of Glenwood. Guess they couldn’t afford to stay in the high rent district.

Another Victim
12 years ago

Jay is no saint. He succumbed to power, wealth and the trappings. He isn’t the first one to slip up and he won’t be the last. Suzanne is the Devil Incarnate. She destroys people to feed an ego that can never be happy. She raised her sons in the same mold. Thankfully, it may all come to an end. I’m sorry for all that suffered in this latest round of Clifton/Savage Brutality, but at least no others need suffer.

I would have more sympathy for her if she were not so defiant and self-righteous when anyone who knows the Castleton/ESG/Clifton/Savage World, knows she NEVER left herself too far from the money. She needed it too much just to love herself, and try to buy the love of those around her.

Help those that work for him.
12 years ago

ESG was forced to move out of the Glenwood office a few months back. They are now renting a house in Cary.

TinkerBell
11 years ago

Looks like they are being forced out of there place in Cary. I hear things are not going well for them as in no one is using them.

24
0
Would love your thoughts, please comment.x
()
x