MediaCorp : Forensic accounting exercise contemplated

Friday June 15,2012 :  EDIA CORP ACCOUNTS UNDER THE MICROSCOPE? (Update)
 
Forensic accounting exercise contemplated
 
Information on Media Corp surfacing Thursday suggests that the new management which replaced Justin Drummond and Sara Vincent may be concerned at discrepancies in the accounts, and is contemplating a forensic accounting exercise that could have serious ramifications in the coming weeks.
 
This may be the reason for their continued silence despite ongoing complaints and the mounting anger of investors and unpaid Purple Lounge players.
 
Media Corp is the parent company of the failed online poker room and casino, placed into liquidation by the new Media Corp management earlier this monthafter the previous management – prior to stepping down – ‘suspended' its activity, leaving players uninformed and unpaid.
 
The mystery around litigation launched against Media Corp by CD Casino.com Limited has also been cleared up.
 
CD Casino.com Limited director, and well-known e-gaming publisher, Michael Caselli has confirmed that the legal action was launched against Media Corp in respect of a business deal with its former subsidiary Gambling.com, and had nothing to do with Purple Lounge.  The case is still being pursued.
 
Caselli publicly and privately warned the previous Media Corp management on what in his opinion were questionable management decisions, but was apparently ignored.
 
There are also strong indications that outraged Media Corp investors may be planning legal action against the former management.