Where is Ryan Eagle’s Money Going?Written by Pace Lattin
February 24, 2013 # 7:08 pm # Marketing Insights, Specials # 32 Comments
What I hate more than anything is when a company goes out of business, but then does anything possible to collect the money and keep it through other means. According to reports out there, EWA owes tons of money to affiliates, if not millions, but is “doing their best” to collect and pay them. It seems perhaps this is not true. According to a letter sent to people who owe money to EWA, they are now asking people not to pay EWA but instead a new corporation that has been set up in California.
This corporation was just set up in the past year and from the looks of it, does absolutely no business. It’s address is located in an apartment building, and more importantly, the phone number and address is actually associated with several other affiliate networks that disappeared. You might remember JARMEDIA and AdShore Media which according to a search, not only has the same phone number, but the same address… and templates.
According to LinkedIn, one Jeremy Ricks owns both of the corporations JAR Media and AdShore Media.
So what is going on here? EWA wants you to pay another corporation so other people can’t collect on. While I don’t have proof that they own these corporations, there is some very strange coincidences, including that Phil Amidon is also following on linkedin JAR MEDIA, the company with the same address. On top of that, all three corporations have the same attorney, one Robert H. Powsner.
What’s even weirder if you don’t think these companies don’t have anything to do with EWA, I found hosted on their server an EWA logo — obviously that the companies, the apartment address has been at least associated with EWA for many, many years.
I’m not going to go out and claim that Ryan Eagle and EWA are stealing money through a dummy corporation, but something seems very strange indeed — even before noticing that the company “Global Media Aspiration” doesn’t even have a working website as of the writing of this article.
So, what should you do? If you owe money to EWA, I’d sincerely hold onto the money for now or pay EWA themselves. I have no idea what is going on, but the idea that you should be paying a new corporation money that perhaps you owe for your debt is strange indeed. I’d love some feedback on these companies, and perhaps others have a little more insight into what is going on.
I would like to introduce you to Phil Amidon from Global Media Aspirations. Moving forward they will be handling all our receivables. Please make sure that payments are made direct to the below wiring instructions. Phil will be reaching out to you shortly to introduce himself and explain the process further.
Account Name: Global Media Aspiration, Inc.
Company Address: 3000 Steiner St., San Francisco, CA, 94123
Bank Name: Bank of America
Bank Address: 2200 Chestnut St., San Francisco, CA 94123
Account Number: xxxx172233
ABA Routing (wires): xxxx09593
ABA Routing (paper): xxxx00358
Swift Code (USD): BOFAUS3N
Update 2/25/13: Jeremy Ricks, the owner of JAR Media has emailed PMI saying that they have no association with EWA except that they had an agreement in place to loan the company, and as part of that loan agreement, was a provision if they defaulted on the loan, the company would be able to collect the receivables. Interesting tangled web?
Following up on the below email from EWA: I understand that there is some confusion as to the role of Global Media Aspiration as related to EWA. If this is the first email you are receiving from me it is nice to connect. Please be advised that we are a senior secured creditor of EWA and they have defaulted on our loan. As such, we are exercising the rights provided to us in our lending agreement and hereby assuming all accounts receivable of EWA.
It would be very helpful if you could send me any outstanding invoices that you have with EWA, their amount and the terms of the invoices (expected pay date) so that I can mark those amounts down in our system and generate an appropriate database and invoices. We do have access to EWA’s system but it is a lot to go through – this is to say that I would greatly appreciate your assistance.
I understand that this account change is an adjustment and I am here to ensure this process goes as smooth as possible. Please let me know if you have any questions or need any further information. Your attention to this matter is greatly appreciated.