Posted on: September 17, 2013

KSL Media may have been victim of embezzlement


According to the Mediapost Agency Daily, an embezzlement scheme may be at the center of KSL Media's bankruptcy. The independent media company recently reduced its staff to 30 employees after filing a Chapter 11 bankruptcy petition, which claimed that "criminal malfeasance" on the part of its former corporate controller, Geoffrey Charness, was partially to blame. 

The source reported that in the declaration, Janet Miller-Allen, KSL's current controller, alleged that Federal Bureau of Investigation, the news provider noted.

AdAge pointed out that before the bankruptcy, KSL employed 135 staff members across several offices in New York, Las Vegas and Los Angeles. The firm filed Chapter 11 in order to "'conduct an orderly wind-down' of operations," as an initiative to restructure was not deemed viable.

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