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Neon
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Posts: 18935
Location: Poland
PostPosted: Fri, 7th Nov 2014 00:27    Post subject: Zalman goes bankrupt
Quote:
The reason for its bankruptcy isn’t anything to do with its own products or performance, in fact this news may even come as a shock to Zalman employees. The reason the company has collapsed is due to the actions of its parent company Moneual, and more specifically its CEO and vice presidents.


Moneual CEO Harold Park, and vice presidents Scott Park and Won Duck-yeok, have apparently spent the last five years producing fraudulent documentation relating to the sales performance of Zalman. These documents inflated sales figures and export data for Zalman’s products. The reason? Bank loans.

By increasing sales and exports Park and his associates were able to secure bank loans totaling $2.98 billion. Someone has finally realized what has been going on, though, triggering Zalman’s shares to be suspended on the stock market and the company filing for bankruptcy protection. The questions now turn to how this practice was allowed to continue unnoticed for so long and how the banks will go about getting their near $3 billion back?




http://www.geek.com/chips/pc-cooling-specialist-zalman-goes-bankrupt-due-to-fraud-1608736/
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Raccoon




Posts: 3160
Location: Poland
PostPosted: Fri, 7th Nov 2014 01:20    Post subject:
It's a shame they're going down because of their supervisors' deplorable demeanour instead of some legit fuck-up on their side.

Were it caused by their products not selling and shit financial results, it would be understandable. But this..? Sad

Morality in business sucks. The world of CEO's and corporate management is really full of sociopaths.

"Anatidaephobia is the fear that somewhere in the world there is a duck watching you."

Fuck Polish government for oppressing women!

"People are such awful conversationalists that they’ll interrupt you when you’re answering a question they asked."
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Przepraszam
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Posts: 14513
Location: Poland. New York.
PostPosted: Fri, 7th Nov 2014 01:24    Post subject:
http://www.nfohump.com/forum/viewtopic.php?t=100718
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DV2




Posts: 5238
PostPosted: Fri, 7th Nov 2014 23:49    Post subject:
It's a shame,i was a fan of buying their GPU coolers and was about to buy a CPU Cooler but was afraid of their "cutting edge" look..

RIP ZALMAN

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PumpAction
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Posts: 26759
PostPosted: Fri, 7th Nov 2014 23:57    Post subject:
http://www.nfohump.com/forum/viewtopic.php?t=100718

dupeeee

=> NFOrce GIF plugin <= - Ryzen 3800X, 16GB DDR4-3200, Sapphire 5700XT Pulse
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