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Thu March 8, 2012
Complaint Filed Against Chuck and Sarah Jones, CA Jones Management Group
One of Murray's largest private business owners and philanthropists is under fire from one of his investors. David Griffin's attorney filed a complaint against Chuck and Sarah Jones in federal court late last month. Chuck and Sarah Jones operate several companies under the the name of C.A. Jones Management.
The complaint states that Mr. and Mrs. Jones have mismanaged the companies and Chuck Jones has “implemented a scheme of undisclosed, self-dealing to funnel significant money for his family’s personal gain that Griffin had invested in the companies for legitimate purposes.” The complaint calls attention to their lavish lifestyle and their historic philanthropic giving while the companies were reporting financial losses. The complaint asks that the Court appoint a Receiver to take charge of the companies and management group. Griffin names the possible "Receiver" as Kevin Crumbo of KraftCPAs Turnaround and Restructuring group PLLC. The KraftCPA website says Crumbo, “assists clients in a variety of industries with turnaround management, restructuring, and related services, including acquisition due diligence and forensic accounting.”
Chuck Jones has yet to file a response to the complaint Court, however he has released this statement.
“David Griffin and I are 50-50 partners in several companies managed by C.A. Jones Management Group. Around a year ago, Mr. Griffin decided he deserved to own more than 50%. After several months of trying to negotiate a suitable resolution to his wishes, he was still not satisfied unless he owned substantially more of the businesses than me. When he determined I was unwilling to give into his demand he decided to file this suit. In my opinion it is baseless and has no merit. I believe that we will prevail in this suit.”
Local rules for the US District Court in the Western District of Kentucky state that parties have 21 days from the time a complaint is filed to respond. Case Manager Kelly Harris says once a response is filed, a phone conference will be scheduled for the involved parties to determine the next steps.
Phone calls to Mr. Griffin’s attorney were not returned.