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from the pay-no-attention-to-the-companies-behind-the-curtain dept.
Gizmodo and Digitaltrends are among those reporting that electronics retail website Newegg has been sued by South Korean Banks, who say that Newegg and the South Korean Hardware company Moneual conspired to defraud the banks of "hundreds of millions of dollars."
The lawsuit, which was filed in U.S. District Court in Los Angeles, claims that Newegg and computer wholesaler ASI Corp. made false orders for home-theater computers from Moneual. The banks claim that Moneual organized the scheme and used the fake orders to obtain funds from the four banks. Newegg and ASI allegedly received a cut of the money in exchange for their cooperation.
[...] The computers that Moneual ordered were allegedly priced at 300 times their actual retail value, which is why the banks believe Newegg and ASI were part of the scam.
"No such business would have [paid] such an inflated price, unless it intended to create the illusion of extensive, profitable, high-value commerce... for the purpose of defrauding lenders into supporting the transactions," the lawsuit alleges.
The four banks are demanding a jury trial and monetary damages. They say that $230 million is still owed from the faulty loans that Moneual obtained.
(Score: 5, Informative) by frojack on Tuesday October 24 2017, @01:55AM (2 children)
Well there's some question about what exactly the charges entailed.
The operative paragraph in TFA is:
However, you can't get a Home Theater Personal Computer for 8 Dollars. Even a USB stick would cost more than 8 dollars.
So something has been lost in translation.
No, you are mistaken. I've always had this sig.
(Score: 2) by Bot on Tuesday October 24 2017, @06:32PM (1 child)
> However, you can't get a Home Theater Personal Computer for 8 Dollars.
Challenge accepted
a 8gb usb stick can be had for 8 dollars I guess.
put kodi or vlc or stuff on a live linux system on usb
- "see client, this is a HOME THEATER PERSONAL COMPUTER that connects to your existing computer and makes it read ANY KIND of video without the SLOWNESS of windows! Try it!"
- "wow man it works! I used to wait 5 minutes before my media player could play an mp3, this is lightning fast!!!"
And they all lived happily ever after.
Account abandoned.
(Score: 0) by Anonymous Coward on Tuesday October 24 2017, @07:19PM
I could buy 80 bucks for a full htpc. Something with an SoC ARM chip in it. 80 bucks is within the realm of doable. 8 like you pointed out gets you 1 part of a system.
Now remember lawyers lie and exaggerate all the time. It is not uncommon. It is a tactic to basically get the plaintiff to admit wrong doing. Basically screw up and say no its not 8 dollars its 300 dollars. So at that point you are just arguing amounts not wrong doing. The wrong doing is implicit in the correction. It is like how a police officer will lead you with a question of 'do you know why I pulled you over today'. As you may say something else he did not notice and he gets an easy ticket.