KSL Media Blames Ch. 11 On Alleged Embezzlement Scheme
By Matt Chiappardi
Law360, Wilmington (September 12, 2013, 9:29 PM EDT) -- One of the largest independent media-buying firms in the United States, KSL Media Inc., filed for Chapter 11 protection Wednesday in California, driven to bankruptcy after losing a major account and claiming it was the victim of an alleged multimillion-dollar embezzlement scheme it blamed on its former controller.
According to the bankruptcy declaration from current controller Janet Miller-Allen, the company’s former controller Geoffrey Charness is the subject of an FBI investigation connected to an alleged scheme to dump $140 million from the company’s accounts into his...