Private Media's CEO suspended

Berth Milton's future uncertain as fiscal and legal crisis grows.

Private has been beset by poor financials and shareholder unrest this year, and this action appears to be the result of a Las Vegas suit brought by shareholders and former CEO Ilan Bunimovitz against the management of the company.

Johan Gillborg, Private's CFO and corporate secretary, has also been fired.

For the time being Eric Johnson, the receiver for Private, will carry out CEO and CFO duties.

The plaintiffs allege that Milton removed $24,000 in Private funds from company bank accounts without the receivership's consent and refused the receiver's entry into the office's building.

They also say he tried to move the company's URL into his own personal ownership.