Newegg Accused of Fraud by Group of Korean Banks


Newegg Inc., the City of Industry computer seller, has been sued by four South Korean banks that allege it conspired to defraud them of hundreds of millions of dollars, the Los Angeles Times reports. The suit, filed in U.S. District Court in Los Angeles, claims Newegg and computer wholesaler ASI Corp. made fraudulent orders for home-theater personal computers from a Korean hardware manufacturer that used the fake orders to obtain loans from the banks.

No posts to display