PC Cooling Specialist Zalman Goes Bankrupt Due To Fraud

An anonymous reader writes Zalman's parent company Moneual's 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.

Comments

Just

[Anonymous Coward]

Capitalism done right.
The ultimate example of "i earn, fuck you".

Re: Just

[Anonymous Coward]

Sorry fag, it stopped being capitalism the moment they started lying

Re: Just

[Rob Riggs]

Classically, capitalism relies on producing goods that people want at prices people are willing to pay for them.

Bullshit. Classically, capitalism has a solitary defining feature: the private acquisition of capital. It is solely about who controls the resources used to produce goods. Lying and cheating are time-honored practices of modern capitalism.