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Industrial Bank of Korea et al v. ASI Corporation et al
Case Number:
2:17-cv-07646
Court:
Nature of Suit:
Judge:
Firms
Companies
Sectors & Industries:
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October 05, 2018
Newegg Uninvolved In Subsidiary's Alleged Fraud, Judge Says
A California federal judge on Thursday released online computer retailer Newegg Inc. from a suit claiming the company helped fraudulently procure $3 billion in loans from four South Korean banks, saying the banks had failed to show that Newegg played any part in the alleged misconduct of its Chinese subsidiary.
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September 19, 2018
Newegg Wants Out Of Korean Bank Fraud Case
Online computer retailer Newegg Inc. sought release from a fraud suit alleging the company helped procure $3 billion in loans from four South Korean banks, arguing in California federal court Wednesday that it is not directly liable for any alleged fraudulent activity.
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October 23, 2017
Korean Banks Say Newegg Part Of 'Classic Ponzi Scheme'
Four Korean banks claim in a fraud suit filed in California federal court Wednesday that online computer parts retailer Newegg took part in a "classic Ponzi scheme" that involved fraudulently procuring more than $3 billion in loans, $230 million of which is still missing.