Chapter 11 - DEREK SLOAN
Derek Sloan became Jason’s biggest problem.
He was not innocent.
But he was not the mastermind either.
North Ridge had grown dependent on Bennett Home Supply.
Nearly 38% of annual revenue came from Bennett-related programs.
Jason pushed Derek to pay JBD Strategy.
Derek said:
“Jason told me it was cleaner to keep his consulting separate from Bennett payroll.”
That explanation was plausible.
Then he produced messages.
DEREK:
Should finance know this is yours?
JASON:
Dad knows I consult.
DEREK:
Claire?
JASON:
Claire doesn’t need to approve my side business.
DEREK:
She signs related party schedule.
JASON:
Then classify it as campaign subcontracting.
That was the line.
Not necessarily theft.
But concealment.
Derek eventually cooperated with the bank review.
He repaid certain unsupported charges.
North Ridge lost preferred-vendor status for one year.
It did not disappear.
Employees kept jobs.
Again, consequences targeted the conduct rather than creating a fantasy collapse.
Derek’s cooperation agreement did not wipe away his role.
North Ridge had benefited from the arrangement.
He knew Jason was connected.
He helped classify JBD as ordinary subcontracting.
He told himself Bennett management already knew because Jason was the founder’s son.
That assumption was convenient.
The bank required North Ridge to certify future related-party ownership on every campaign reimbursement.
Derek also paid:
$54,000
in negotiated restitution and audit reimbursement tied to unsupported charges.
Not the whole $742,800.
Not ruin.
He kept his company.
Lost preferred status.
May you like
Lost margin.
Learned that “I assumed the family knew” was not disclosure.
