MICHAEL J COKER JOHN J MADSEN
According to John Madsen during his 341 Bankruptcy hearing, in 2010, he and Michael Coker had been together for 19 years (listen) During their years together they have left a trail of unpaid debts, State cease and desist order for violations of securities law and a string of unpaid investors who have alleged fraud and/or securities fraud. This site reviews John Madsen and Michael Coker’s business activities from 1991-2013. It is based on facts and linked to court documents.
If you are in a hurry but need insight into the activities of Madsen and Coker, review these three documents:
1. Grisby, Etal v Coker, Madsen, etal Third Amended Petition, an outline of the way they have done business.
2. Coker, Madsen v Buffum, etal Sanctions for Madsen and Coker outlines their manipulation of the legal system.
There is valuable information in this site if you plan on doing business with these men .
PLACES LIVED and ALIASES
JOHN J MADSEN was born in July 1958 in Norway, moved to Canada at the age of 13, according to him during his 341 Bankruptcy hearing in September 2010. He has lived in Arizona, Florida, Kentucky, Nevada and Texas. Mr. Madsen has several aliases according to various legal documents.
ALIASES: John Jorgen Madsen, Kleinstrup J Madsen, Kleinstrup Jorden Madsen, Jorgen Kleinstrup Madsen, Jorgen Klienstrup Madsen, John J Madson.
MICHAEL J COKER ( Michael James Coker ) was born in November 1970 in Tarrant County, Tx. He has lived in Arizona, Nevada and Texas.
According to documents filed in 2011 (and again in 2013) Michael Coker and John Madsen live in Las Vegas, NV.
A general description of some of their actions are below. Review of cases for each action are on the History page:
(1) Set up a company, get investors, then the company fails
(2) A promissory note agreement or distributorship agreement
(3) Buy property under an Owner Finance Agreement
(4) Hire for a service to be performed (i.e. web design), then not pay for the service.
The type of business/product they have been most involved with is GPS (global positioning systems). The first GPS company was International Global Positioning (IGP) started in Nevada but also registered in Arizona. This company has a “permanently revoked” status according to Nevada and Arizona records. GlobeTrack Wireless, Inc. (GTW)was registered in Delaware but a Texas based company. The phone numbers and address, previously found on the GTWGPS website are no longer current. The phone numbers have been disconnected and the office is now vacant. It appears at least two of the GlobeTrack Wireless sites are no longer active; www.gtwgps.com and www.globetrackwireless.com. GlobeTrack Wireless is “not in good standing” in Texas. 8/6/12 — New-Visions GEO is the newest GPS company, please go to the company page for the update.
LocatI Global Holdings, LLC, was started by Dwight Jory, friend/business associate, in February 2011. It was another GPS company. LocatI, completed an ” acquisition of GTW”. LocatI Global Holdings was also buying BDCM, it fell through, then it was going to buy TDEY, it also fell through. More information can be found under the LocatI Global Holdings tab and The Patent tab.
$$$$ JUDGMENTS FOUND $$$$
The civil judgments alone, which have been found, total over $2.2 Million, this total comes from a combination of lawsuits involving either Madsen, Coker, or companies they have operated or a combination. They acknowledge several of the judgments in their 2010 Bankruptcy filings. Payment has not been found for most of the judgments. There is $3.4 million in Restitution which is a combination of Madsen’s mail fraud case and their securities fraud case in AZ. Madsen and Coker have a total of $500,000 in IRS liens. There are people who have money owed to them but have not filed law suits. Some of those stories are in the History section, some are in the Stories Submitted section.
ABOUT THE FACTS/DOCUMENTATION
A few short stories, with court documents, are under the History Tab . The stories depict the unpaid debts, securities fraud and unpaid investors. John J Madsen and Michael J. Coker often state “funding is coming”. However, if funding did come, the people who are owed money have not been paid. Listen to Michael Coker during his 341 Bankruptcy meeting in September 2010 talking of the $1.2 Million in” funding coming“. Funding. For more clips go to More Information tab. Here are 3 emails from John Madsen stating that “funding is coming”. It seems it never did since GlobeTrack Wireless filed for bankruptcy.
The information was found in court records of Maricopa County, AZ and Travis County, TX; 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 1991. As early as 1992 an attorney who had not been paid filed against John Madsen. It is interesting to note how many attorneys have withdrawn from representing either Madsen or Coker for non-payment. Two cases have been found where the attorney filed a lawsuit, Mr. Putman Judgement and Mr. Weiner. Here are more Attorney filings. One of the most recent cases (2010), an attorney did $73,000 of work on a case Coker and Madsen filed. The attorney was not paid according to the Coker and Madsen 2010 Bankruptcy filings, which can be found on the Madsen and Coker Bankruptcy page.
TWO FRAUD CASES WITH UNPAID RESTITUTION
2001 JOHN MADSEN – MAIL FRAUD
John Madsen pled guilty to mail fraud on Nov. 5 2001 for “offenses committed on or after Sept 13 1994”. (offenses occurred from 1994-1998) As stated in the plea agreement, Madsen worked with Glenn R Premru making promises of loans while knowing the loan would not be completed. A fee was charged for the loan. This “scheme to defraud” happened throughout the US and Europe. They took $7.7 Million in fees. Madsen pled guilty and received a 5 year probation starting in Feb. 2005. His restitution was $2,554,000. It appears that restitution has not been paid, resulting in liens filed against Madsen in 2005 by the United States in Arizona and in 2008 in the Western District of Texas .
In 2011, the Western District of Texas made inquires to John Madsen about his restitution. Read more on the Madsen Mail Fraud Section.
United States of America v. John J. Madsen, Plea Agreement, CR-01-1010-PHX-SRB, U.S. District Court, District of Arizona, lodged on November 5,2001. Probation (3rd page has the conditions) Plea Agreement
2004 JOHN MADSEN and MICHAEL COKER – ARIZONA SECURITIES FRAUD
John Madsen and Michael Coker were involved in securities fraud in the state of Arizona in 2001. In June 2004 they were issued an Order to Cease & Desist from selling securities by the Arizona Corporation Commission. The amount of money received by Madsen and Coker was $2.4 Million according to a deposition (go to the Their Words section). The restitution in this case was $590,951.00. The judgment against Coker and Madsen was renewed in 2009 to $914,000.00.
Added May 2012: The IGP Business Plan dated July 16 2001 was recently found. The document came out just 4 months before John Madsen signed the Plea Agreement with the United States for Mail Fraud. (see above). It is fascinating to read. While it is 40 pages and seems impressive, when it is really read it seems to be less than substantial. Dwight Jory is mentioned as part of the Executive Management Team (page 36) and Billie J Allred (page 37) who both went on to be involved in other companies with John Madsen and Michael Coker. There were several companies started with ResQ, in the name, it is the product mentioned on page 6. Here is a brochure for the product. One of the companies, ResQ-IGP, had a suit filed against it in 2007 by Frost Bank for an over-drawn account ($7,535), Coker had been named in the suit but was later dropped. The account was opened in March 2003. This letter from Michael Coker, about the RESQ product, was sent out in March 2003. At the beginning of the letter, it is stated that IGP is buying part of the manufacturing company, history has shown this was not a true statement. Coker also stated IGP had an endorsement from an Indy drive, nothing was ever found of this endorsement. Certainly GlobeTrack Wireless announced when they were working with Nascar teams and there was the NSF check that Madsen gave to the McReynolds Team. Also notice funding is mentioned in the letter. Strange that the Frost Bank account was over-drawn with all the success that was heading their way. There are many similarities in statements from Coker during the IGP days and the GlobeTrack Wireless days.
In the Matter of International Global Positioning, Inc, John J Madsen, Michael Coker: Cause No. 67086: Order to Cease and Desist, Order of Restitution, Order for Administrative Penalties and Consent to Same by : Respondent International Global Positioning, Inc. Respondent John J Madsen and Respondent Michael J. Coker. John Madsen and Michael Coker Order From Arizona Corporation Commission.
Newsletter from Arizona Corporation Commission, see page 2 in this newsletter. The very last sentence of this article states “Both Coker and Madsen consented to not apply for an Arizona securities registration at any time in the future. International Global Positioning is now located in Austin, Tx.” This is government work at it’s finest.