MediaG3 (MDGC)

[beachsideeddy2]

Birds of a feather! MDGC partner GlobeTrack Wireless:

John Madsen and Michael Coker have testified they have been "life partners" for the last 19 years. During that 19 years they have left a trail of unpaid debts, State cease and desist orders for violations of securities laws and a string of unpaid investors who have alleged fraud and/or securities fraud.

Madsen and Coker have a variety of schemes to defraud. One is to set up a company, entice people to invest in the company, then the company "fails". The invested money seems to be spent on anything except the company. A variation is a "promissory note" scheme. A person gives them money, a note is signed with either promise to repay with interest or to give shares for an "upcoming" company; the person does not receive money or shares of stock. A different scheme to defraud is to "buy" something via an Owner Finance Agreement. Coker signs the contract, not Madsen. A deposit and payment is made in the beginning, then payments stop completely. Often a NSF check will be delivered for payment. When payment is demanded they state "funding is coming". The payment is never made. Another simple fraud/breach of contract they use is to hire someone for a project, then not pay for the work done. Again, "funding is coming". Payment is not received.

The type of business/product they are most involved with is GPS (global positioning systems). The latest company being GlobeTrack Wireless, Inc (GTWGPS) At this time, the phone numbers for GlobeTrack Wireless, Inc have been disconnected and they are no longer at the listed address; it appears the above "funding" spoken of by Michael Coker still hasn't come in.

A few short stories depicting each of the schemes described above follow; as well as cases against them. To date, the judgments total over $4 Million, Government Restitution (mail fraud and securities fraud) over
$3 Million and IRS Liens total over $600,000.

The following information has been found in court records of Maricopa County, AZ and Travis County, Texas, as well as documents found online which were filed by the United States, Arizona and Washington. It is believed there are other cases, in other cities, which have not been found. Legal filings have been found starting in 1992 until present.

http://stopmadsencoker.com/index.html

Bottom of the page: http://www.mediag3.com/partners/MG3-GTWGPS-Home.htm



Good luck at stringing people along, Val!!! HA!!!










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