South Carolina Court Order Says Embattled Upstate CEO Is Missing

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The executive at the helm of Greenville, South Carolina-based Insurance Applications Group (IAG) – which dramatically imploded earlier this year – cannot be located to accept service of legal documents, according to an Upstate judge’s order.

S.C. circuit court judge Perry Gravely issued an order last Friday (February 28, 2025) in connection with a civil case filed against IAG, its founder J. Marshall “Jay” Dye III and several related incorporations.

Per the order (.pdf), “a diligent effort to ascertain the whereabouts of the defendants or to determine their residence for the purpose of service has been made.”

And?

“They cannot be found within this state,” Gravely noted.

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Gravely’s finding confirms reports from our network of sources attesting to the fact Dye has not been seen in the Palmetto State for several weeks.

IAG closed its Greenville headquarters on January 17, 2025 with no prior notice to employees. This came after FITSNews heard rumblings in mid-December that all was not well with the firm – specifically allegations IAG had “missed payroll” that month. Issues with the company reportedly dated back to 2023 when, according to our sources, Dye “stopped paying his sales team commission checks with zero notice.”

“The company does not have the funds to make payroll today as planned,” Dye wrote in a January 17 email to employees. “Until this situation can be sorted out, we have no choice but to lay off/furlough the workforce. It is my hope that this layoff/situation is temporary until we can resolve our issues with the underwriter, and I will provide further information when I am able.”

The situation was not temporary. On February 20, 2025, our media outlet reported IAG employees had been summoned back to the company’s former headquarters for the purpose of “clearing out their offices” after having previously been denied access.

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Sad situation unfolding at IAG in #YeahThatGreenville today. Employees are clearing out their offices following the recent implosion of this firm and its politically connected leader, Jay Dye. We've published one report on this corporate debacle already. More coming… #SCBiz pic.twitter.com/mTNgmyb2zZ

— FITSNews (@fitsnews) February 20, 2025

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According to our sources, IAG employees were monitored by surveillance as they collected their personal items.

IAG previously boasted of receiving numerous industry awards for its work, which involved providing clients “a unique employee benefit ecosystem delivering predictable, measurable, industry-leading results.”

In addition to the claim referenced by Gravely’s order, Dye is also facing lawsuits related to allegations of non-payment. Named in several of these complaints in addition to him was Marisa Mazur, IAG’s former vice president of finance.

Those lawsuits painted a dire picture of the situation at the company.

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RELATED | UPSTATE INSURANCE FIRM IMPLODES

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“Dye has stripped IAG of assets and abandoned the company,” a motion (.pdf) filed in the S.C. thirteenth judicial circuit on December 5, 2024 noted. “There is a significant risk that, absent immediate takeover by a court-appointed receiver, IAG will be further looted and its corporate records compromised, causing irreparable damage to (plaintiffs) and other IAG employees.”

The motion further noted “Dye has been absent from IAG’s place of business for weeks without explanation,” and that on November 28, 2024, the company “failed to meet a regularly scheduled payroll, leaving all company employees without income entering the holidays and depriving them of wages already earned.”

Dye’s fall from grace could get messy as the businessman is well-known in Republican political circles in South Carolina – enjoying close relationships with top GOP elected officials including governor Henry McMaster and attorney general Alan Wilson. Dye has also been described by many in Greenville as one of the pillars of the Upstate’s thriving business community.

As noted in our prior coverage, FITSNews has been “inundated with information related to IAG’s collapse from those who have been living through it over the past few months.” Expect to see extensive additional coverage in the coming weeks and months…

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THE ORDER…

(S.C. Thirteenth Judicial Circuit)

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ABOUT THE AUTHOR …

Will Folks is the founding editor of the news outlet you are currently reading. Prior to founding FITSNews, he served as press secretary to the governor of South Carolina. He lives in the Midlands region of the state with his wife and eight children.

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