I just got an email response from Jonathan Cox of the News and Observer that sentencing has been postponed again, until June, for the ex-CFO of The Castleton Group, Jay McLamb.\u00a0 He also said that no specific date had been set.<\/p>\n
I hate to speculate, but since this is a blog and full of my opinions, I will.\u00a0 I would guess that Jay’s sentencing is probably taking a while for various reasons:\u00a0 The investigators are probably digging though a web of financials only he can help untangle as they work to build a case against Suzanne Clifton and potentially her son. \u00a0 Jay’s lawyers could still be negotiating his sentence based upon the amount and quality of information he’s provided.\u00a0 If I were Clifton I would be more and more weary of the case being built the longer Jay’s sentencing is postponed. There are lots of Internet comment rumors about the funds transferred between Castleton and The Executive staffing group.\u00a0 If there is any truth to these accusations then the investigators could be taking their time to build an air tight federal case to avoid defense loopholes.<\/p>\n
The Trustee suing Clifton and her mortgage companies could step up efforts to recover from her personal assets despite her supposed insolvency through bankruptcy.\u00a0 I read somewhere that she didn’t not even file some of the papers for her bankruptcy within the required time frame.<\/p>\n
There are a lot of people who don’t want Clifton to just walk away from this with millions in bankruptcy protected personal assets while there are so many small businesses still suffering from the ramifications of her companies criminal activity.\u00a0 I also think it’s a great addition to the argument surrounding why 2nd and 3rd homes qualify for bankruptcy protection when primary residences do not.\u00a0 Clifton should not be allowed to keep these home regardless of her criminal involvement (because of her companies debts to former customers). They should be seized by US Marshals the same way Madoff’s yacht and Florida vacation home were.<\/p>\n","protected":false},"excerpt":{"rendered":"
I just got an email response from Jonathan Cox of the News and Observer that sentencing has been postponed again, until June, for the ex-CFO of The Castleton Group, Jay McLamb.\u00a0 He also said that no specific date had been set. I hate to speculate, but since this is a blog and full of my … Continue reading Castleton’s Jay McLamb’s sentencing was postponed again.<\/span>