TwinTurbo.NET: Nissan 300ZX forum - Nope, this one >>>>
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Subject Nope, this one >>>>
     
Posted by Gold Z on August 10, 2017 at 4:24 PM
  This message has been viewed 203 times.
     
In Reply To You mean this one? posted by Kyle(Houston) on August 10, 2017 at 03:32 PM
     
Message Default SGP VS. Kyle Puckett ( IS OVER ) Long



Sorry Guys but, I felt that everyone who caught the original "Break Up" post by my X- partner was owed a truthful explanation.

Well,

The day has finally come that SGP Racing can tell you all the truth about our separation from Kyle Puckett. We have been sitting on this and biting our tongue, as advised by our attorneys, for over two years now.
Some of you know me, many of you are customers. But, for the ones that do not: My name is Mark and I started SGP Racing in 1989 while working an engineering job for a chemical refinery. I started out part time building race cars and turbo charged street cars before turbo charging was popular or very well known. In 1995, SGP had gotten so busy that I needed to make a decision on if I wanted to do this full time and leave my other job or hire someone to help me manage the amount of business that was being generated. In 1996, I had built a 300ZXTT for Kyle Puckett and told him about my need for help. He mentioned that he was looking for a career change from car audio but knew nothing about turbo charging or engine building, which is what we specialized in at the time. I told him that I was willing to teach him, if he was willing to learn. After about four years, I had him handling sales calls and internet sales, pretty much full time.

–Skip Forward-


In September 2003, I suffered a severe back injury while on the job at another company. During this time, I was in and out of SGP for a few hours, a few days per week to make sure that the techs were on track. I was also going through rehab, therapy and multiple procedures in an attempt to avoid surgery. I had no choice but to trust Kyle to take care of all of the office work during this time period. First, let me make this clear: Kyle’s job duties consisted of answering phones, filling internet orders, and handling accounts receivable and accounts payable. He did NOT handle all of the day to day operations as he has previously stated. In 2005, I finally underwent major surgery, with a suggested six month recovery time. I came back to work, full time, at SGP Racing six weeks later. Once I came back to work, I began glancing over the books, trying to figure out where all of our revenue was going. I began finding MANY personal expenses being charged to the company bank account. Personal expenses being electric bills with Kyle Puckett’s name on them, $250.00-$500.00 steak dinners, thousands of dollars in wine purchases, his girlfriend’s credit card payments (as well as his own), THOUSANDS of dollars to a pornography website, his home mortgage, DVD club purchases, veterinarian charges, dental visits, large ATM withdrawals, etc. We found very large checks written to Kyle, by Kyle and cashed by Kyle, of which were NOT payroll checks. We also found large checks written to his girlfriend by him and one written to his girlfriend by HER. My other business partner came in on the particular day addressed by Kyle (in a previous post dated back to 2005) to help out in the office and found credit cards in Kyle’s desk drawer in the names of every SGP employee, except for Kyle. These cards were applied for and obtained using my social security number and without my approval or knowledge. After contacting this credit card company, I found that he had opened this account to transfer the balance from one of his personal credit cards. We immediately changed the locks and bank accounts and hired a lawyer. At this point, I also hired someone to comb through all of our accounts; old and new. We found that Kyle had been using the company bank account to pay his own, as well as his girlfriend’s, personal living expenses (and he was living like a KING) since 2001, to the tune of over $ 750,000.00. This is ONLY the amount that we could trace. We soon began finding out from customers that they had paid him cash and he provided them with an invoice, of which we had no record of because he had written over the invoice with another. This totaled many thousands and god only knows how much more there was that we did not find out about. I swear, it seemed like every time we THOUGHT we had a final total, we found another way that even MORE money had “disappeared”.


We have been unable to expand the business with this lawsuit dragging on the way that it has. For this reason, we accepted a settlement proposal from Kyle Puckett. Although he would never be capable of repaying the company in full of what was taken, he will be making small payments. In addition, we were given the right to set his lies straight by telling what truly happened. We were given a time limit on this as I can only imagine that he fears the shame of this following him. It should also be known that Kyle Puckett is no longer, IN ANY WAY, affiliated with SGP Racing, SGP Performance Corporation and/or any project(s) that will be in our future.


     
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