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The (Raleigh, N.C.) News & Observer: ATM Financial Services, a Garner company accused of fraud, has filed for bankruptcy. The announcement came last month, after the company reorganized its debts under Chapter 11 of the federal bankruptcy code. The filing was made in a federal bankruptcy court in Florida, where ATM Financial is incorporated and lists assets and liabilities of at least $1 million each. "The ATM community is a very small financial community," said attorney Chris Graebe of Womble Carlyle in Raleigh, which represents the company in the action. "When a company's reputation is damaged before its side of the story is told, it is tremendously harmful."
ATM Equity has accused ATM Financial and its owner, Vance Moore II, of an elaborate fraud to gain control of about 1,200 ATMs at gas stations, convenience stores and other outlets nationwide. ATM Equity contends that it was defrauded of $30 million by the Garner company, which ATM Equity relied on to buy or lease ATMs and operate them on ATM Equity's behalf.
 

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