Results 1 to 6 of 6

Thread: Golden Krust CEO killed himself over tax debt, fears of probe

  1. #1
    JA Soca Ambassador socapineman is offline
    Join Date
    Sep 2003
    Location
    Bklyn
    Posts
    11,834
    Credits
    69,490,072

    Golden Krust CEO killed himself over tax debt, fears of probe

    This is hurtful on so many levels.......One of the true Superstar in the Business World outside of Sports, Music, etc....that Made it Big in America !



    A massive blow to the Jamaican Community and his followers , fans all over...........


    Condolence to his family.....a true Black Success Story.....





    https://nypost.com/2017/12/03/golden...ears-of-probe/




    Golden Krust founder commits suicide in Bronx factory - NY Daily News



    The founder and CEO of Golden Krust Caribbean Bakery & Grill who once appeared on “Undercover Boss” killed himself inside his Bronx factory Saturday, police sources said.

    Lowell Hawthorne, 57, shot himself inside the Park Ave. building near E. 173rd St. in Claremont about 5:30 p.m., sources said.

    More than a dozen current and former employees stood in disbelief outside the factory hours later. Some had tears rolling down their cheeks.

    “He was a good boss, humble and a good businessman,” said Pete Tee, 27, a former employee. “He never seemed sad. This is just terrible news right now.”

  2. #2
    JA Soca Ambassador socapineman is offline
    Join Date
    Sep 2003
    Location
    Bklyn
    Posts
    11,834
    Credits
    69,490,072





    The Jamaican immigrant started Golden Krust with a single fast-food eatery on East Gun Hill Road in The Bronx and opened 16 more across the city before launching a franchise operation in 1996.

    The company now has more than 120 outlets in nine states, and sells its beef patties in more than 20,000 supermarkets, as well as to the city school system, state penal system and US military, according to a news release issued last year.

    Al Alston, who befriended Hawthorne 30 years ago when they were both NYPD accountants and now owns a Golden Krust franchise in Queens, called his suicide “more than unexpected — it’s out of character.”

    “He was always an upbeat guy,” Alston said.



    We’ve been in a lot of tough jams and situations, but he was always a person who’d say ‘We’ll get out of it.’ And we would get out of it.”

    Alston said he last spoke to Hawthorne two weeks ago, adding: “He was so happy about [the recent birth of] his granddaughter.”

    “All his boys are married now. He was talking about taking on a different role as a father, making his boys into husbands and fathers themselves,” Alston said.

    Mourners gathered at Hawthorne’s home in Elmsford, with son Omar, Golden Krust’s director of franchise and community development, saying via email: “We are still grieving, and are not conducting any interviews at this time.”

    During a brief news conference at the Golden Krust bakery, company spokesman and Hawthorne nephew Steven Clarke said widow Lorna Hawthorne was making funeral arrangements and it was unclear if there would be a public memorial service.

    “Right now we’re still processing and trying to wrap our mind around this tragic loss,” he added.

    Additional reporting by Daniel Prendergast, Reuven Fenton, Shari Logan, and Tea Kvetenadze

  3. #3
    where de crix Oneshot's Avatar Oneshot is offline
    Join Date
    Apr 2003
    Location
    Brick City, NJ
    Posts
    24,648
    Credits
    39,926,670
    doesnt make sense to me.
    which yard man fraid of fbi??

  4. #4
    JA Soca Ambassador socapineman is offline
    Join Date
    Sep 2003
    Location
    Bklyn
    Posts
    11,834
    Credits
    69,490,072
    Quote Originally Posted by Oneshot View Post
    doesnt make sense to me.
    which yard man fraid of fbi??
    I know, he have enough friends, good abd bad that can handle his business....


    Maybe he was cooking the books all these years, because they are claiming he owe under 250k or something like that......which is senseless for a business like that. Credit line and coming up with that amount is least of the issue...


    I feel that with his background in accounting, he was cooking the books to the point of facing real time in jail.....

    Because he should of take this company public over 10 years ago and cash in as one the first Blackman from yard that made a Billion dollar.......sinse he was growing the business at that rate, it made sense to go public......vs trying to manager a massive operation like this with a " moms and pops" operation. .....unless you hiding something in the books. ....that is my take, but this is a Bigly story to rise to Heights like this is impressive given his background and what it took to get to the Mountain top !

  5. #5
    where de crix Oneshot's Avatar Oneshot is offline
    Join Date
    Apr 2003
    Location
    Brick City, NJ
    Posts
    24,648
    Credits
    39,926,670
    Quote Originally Posted by socapineman View Post
    I know, he have enough friends, good abd bad that can handle his business....


    Maybe he was cooking the books all these years, because they are claiming he owe under 250k or something like that......which is senseless for a business like that. Credit line and coming up with that amount is least of the issue...


    I feel that with his background in accounting, he was cooking the books to the point of facing real time in jail.....

    Because he should of take this company public over 10 years ago and cash in as one the first Blackman from yard that made a Billion dollar.......sinse he was growing the business at that rate, it made sense to go public......vs trying to manager a massive operation like this with a " moms and pops" operation. .....unless you hiding something in the books. ....that is my take, but this is a Bigly story to rise to Heights like this is impressive given his background and what it took to get to the Mountain top !
    jail for white collar crime weeee?? de man would have left with more links that he had going in.

    the company could have remained private with a minor stake owned by the family or golden krust foundation with his family being the executives.

    and make golden krust the next smash burger. there are so many ways to do it.

    i agree he should have probably sold years ago, but by the same token, that is enough time for the family to go to school get the harvard/ penn state/ columbia / stanford mba/jd and take the firm places.

    i wonder if island grill will buy off the assets.

  6. #6
    JA Soca Ambassador socapineman is offline
    Join Date
    Sep 2003
    Location
    Bklyn
    Posts
    11,834
    Credits
    69,490,072
    Quote Originally Posted by Oneshot View Post
    jail for white collar crime weeee?? de man would have left with more links that he had going in.

    the company could have remained private with a minor stake owned by the family or golden krust foundation with his family being the executives.

    and make golden krust the next smash burger. there are so many ways to do it.

    i agree he should have probably sold years ago, but by the same token, that is enough time for the family to go to school get the harvard/ penn state/ columbia / stanford mba/jd and take the firm places.

    i wonder if island grill will buy off the assets.
    Yes, they locking ppl up now for white collar crime......look at Bernie Madoff.....same sort of story, they both made it to the Mountain Top.....Peak of Biggness on every level.


    Same reasons why Bernie didnt want to go public, he was cooking the books for 30 plus years.


    Might be the same situation here, kids involved in the daily operation but sort of clueless regarding the health of the company!



    When you get big like his business, you have to go Big and either go public or bring in a real management team to run it. ....you cant run it now like a moms and pops corner store operation!


    Well let's wait for more details.....but i have seen enough of these to rake a guess of cooking the books.


    Btw, yeah, they stated that his daughter is an attorney........either way, it is just sad the outcome!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •