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An Upstate, South Carolina business executive whose company underwent a dramatic implosion earlier this year – and who appears to be attempting a vanishing act as a result – is the focus of yet another lawsuit.
J. Marshall “Jay” Dye III – chief executive officer of the now-defunct Greenville, S.C.-based Insurance Applications Group (IAG) – has been sued by a Tennessee content creator named Alexandra Bradshaw for allegedly defaulting on payments to her related to a secret settlement.
Bradshaw, 28, of Chattanooga, Tennessee, filed her lawsuit against Dye and two of his incorporations in the S.C. thirteenth judicial circuit last Friday (February 28, 2025). According to the pleading (.pdf), Dye entered into a confidential settlement with Bradshaw “or about June 26, 2020” related to specific allegations against the businessman.
“The factual circumstances of (Bradshaw’s) alleged claims against (Dye) are to remain confidential,” the filing noted.
At a price, obviously. Per the terms of their 2020 agreement, Dye agreed to pay Bradshaw $7,000 per month “on or before the 10th of each month” for a total of 180 months.
For those of you doing the math at home, that’s a total payout of $1.26 million over a total of fifteen years.
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Dye made fifty-three (53) of the required payments – totaling $371,000 – between July 2020 and December 2024, according to the complaint. He also entered into a separate agreement with Bradshaw “guaranteeing the obligations of the (settlement), including the settlement payments owed to (Bradshaw).
Per the filing, Dye “breached the terms of the (agreement) by failing to make the monthly payments due in January 2025.” Notified of this alleged breach, Dye “failed to respond to the notice.”
He also failed “to make the monthly payments due in February 2025,” which the pleading described as a second breach of the agreement.
Bradshaw’s filing accused Dye of breach of contract, breach of guaranty – and of allegedly having “transferred certain assets to avoid its creditors to other entities yet to be identified.” That allegation mirrors other claims against Dye made in related pleadings in the South Carolina court system.
The lawsuit seeks damages in the amount of $896,000 “plus costs, expenses, attorneys fees, and pre/post judgment interest.”
As FITSNews reported earlier this week, on the same date Bradshaw’s lawsuit was filed S.C. circuit court judge Perry Gravely issued an order in a separate civil case filed against Dye, IAG and other entities linked to him.
Per that 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.”
“They cannot be found within this state,” Gravely noted.
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RELATED | EMBATTLED CEO IS MISSING
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Gravely’s finding confirmed reports from our network of sources attesting to the fact Dye has not been seen in the Palmetto State for several weeks.
IAG previously boasted of receiving numerous industry awards for its work, which involved providing clients with “a unique employee benefit ecosystem delivering predictable, measurable, industry-leading results.”
Despite its massive client roster and industry bona fides, 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. According to our sources, IAG employees were monitored by surveillance as they collected their personal items.
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“Dye has stripped IAG of assets and abandoned the company,” a motion (.pdf) in another lawsuit 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.”
Named alongside Dye in several of these complaints was Marisa Mazur, IAG’s former vice president of finance.
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.”
FITSNews has been apprised by multiple sources of the allegations at the heart of Dye’s secret settlement with Bradshaw. Stay tuned for additional reporting from our media outlet regarding that situation.
Sarah Timmons, one of the attorneys representing Bradshaw, declined to comment on her client’s case when contacted by FITSNews.
“Because this is litigation is pending and the underlying agreement is confidential as is stated in the complaint we cannot comment at all on this case,” Timmons said.
BANNER VIA: GETTY IMAGES
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THE FILING…
(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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2 comments
So if I know what the “Secret Agreement” is about, can I get $1.26M to keep it quiet ?
Different case, but related to this and other lawsuits against J.M. Dye, he was found at his home in Landrum by a Greenville process server on 3/11/25. So he’s not missing anymore. At least for now.