As The Money Dries Up, @MediaTile Winds Down?

Adrian J Cotterill, Editor-in-Chief

Four weeks ago a US federal judge granted a preliminary injunction against the Scotts Valley man accused of running a Ponzi-like scam.

Said ‘Scotts Valley man’ was John A. Geringer, who managed the GLR Growth Fund who were listed as one of the investors behind MediaTile, see our post ‘MediaTile Investor In Ponzi Scheme Accusation‘ – bottom line, the Securities and Exchange Commission filed a lawsuit in May alleging that he used false and misleading materials to lure investors.

The injunction puts a freeze on all money and assets in bank accounts associated with GLR Growth Fund, L.P. which makes us wonder…

  • For the last three days the web site has been down. Now we might be reading too much into that but a recruiter we know well has said also, that he has been unable to raise any of his usual contacts at their offices.
  • Chuck Gose, Vice President, Sales & Marketing at The MediaTile Company has also been very quiet on the company blog (at the time of this writing, the blog is still up and running). Chuck is pretty regular with updates on but the last entry was May 24.

It will be interesting to see this week if any news comes out of Indianapolis, Indiana or San Jose, California.

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