Zalman Filing Bankruptcy Amidst Fraud Allegations

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It looks like the rumors circling the internet are true, Zalman is filing bankruptcy after it (and it's parent company Moneual) failed to repay billions in loans. Thanks to everyone that sent this one in.

The Financial Supervisory Service (FSS) is focusing on whether its KOSDAQ-listed subsidiary Zalman Tech violated corporate accounting rules. The FSS said that it is strengthening monitoring of stock movements as the subsidiary's stock trade volumes surged from Oct. 17 just before Moneual filed for court receivership.
 
What is it with companies that hire people with PhDs in business related finances yet allow the company to get flushed down the financial toilet while someone like me with just an associates degree in IT security and has managed my finances and taxes far better than they have.
 
bondholders and shareholders are getting screwed big time meanwhile insiders probably all cashed out. one may smile, and smile, and be a villain.
 
What is it with companies that hire people with PhDs in business related finances yet allow the company to get flushed down the financial toilet while someone like me with just an associates degree in IT security and has managed my finances and taxes far better than they have.

Your finances are far simpler than theirs.
 
What is it with companies that hire people with PhDs in business related finances yet allow the company to get flushed down the financial toilet while someone like me with just an associates degree in IT security and has managed my finances and taxes far better than they have.

Sust because someone has PhD it proves nothing about their conscience and moral.
 
Your finances are far simpler than theirs.

Yes. The amount of money is staggering, and I'd say I feel bad for the lenders, but I don't. This ethereal lending where banks sign over billions they don't actually have to companies with little to no oversight after the loans are made kinda deserve what they get.

Maybe my finances are simpler, but it also appears like my bank watches me more closely. That can't be the case... Or can it?
 
That's unfortunate. They may be a fraudulent, bankrupt company, but I like their heatsinks.
 
bondholders and shareholders are getting screwed big time meanwhile insiders probably all cashed out. one may smile, and smile, and be a villain.

Yup. Fuck the financial elite. Bunch of leeches. A top tier surgeon makes half a million a year, these schmucks tens of millions. Who adds more to mankind?
 
What is it with companies that hire people with PhDs in business related finances yet allow the company to get flushed down the financial toilet while someone like me with just an associates degree in IT security and has managed my finances and taxes far better than they have.


Do you know how hard it is to keep track of funds when you're constantly shuffling them in and out of foreign tax-haven accounts?

:)
 
Billions? With a B?

What the fuck were they doing with all that money?
 
Not so bad if the money was in South Korean Won, 1 Won equals 0.00092 dollars.
 
What is it with companies that hire people with PhDs in business related finances yet allow the company to get flushed down the financial toilet while someone like me with just an associates degree in IT security and has managed my finances and taxes far better than they have.

They have more debt so more likely to succumb to fraud.
 
Yes. The amount of money is staggering, and I'd say I feel bad for the lenders, but I don't. This ethereal lending where banks sign over billions they don't actually have to companies with little to no oversight after the loans are made kinda deserve what they get.

Maybe my finances are simpler, but it also appears like my bank watches me more closely. That can't be the case... Or can it?

Well technically they do have the funds in the form of deposits. If you understood the industry ( or finance) you would realize it functions much like any other organization... With the exception shares are the liabilities. Underwriting is also generally very conservative in the current economy.
 
Shame to see what has happen to them. I've always liked their coolers back in the P4 days
 
Still running their water cooling tank and sink, bummer…………
 
True, true, but they looked soooo cool! They had a concept case I would have swooped up on if it had made it to market. Had no problems with their products (did their job), I will miss their out of the box thinking.
 
Damn shame. I also liked their coolers back in P4 days. They definitely pioneered a lot of items in cpu cooling industry and IMO started the the high end cooler market.
 
WHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAT
gawd dayaaaaaaaaaaaaaaaaaaaaaaamn
what tha fuuuuuuuuuuuuuuuuuck
Can you believe dat shiznit?!
Just... wow.
And look at the shady shit that was going on. Gawd damn yo.
Yet another company that, if they disappear for good, things just won't ever feel the same.
 
What is it with companies that hire people with PhDs in business related finances yet allow the company to get flushed down the financial toilet while someone like me with just an associates degree in IT security and has managed my finances and taxes far better than they have.

That is an apples to oranges comparison. When it comes to your finances you're in most cases the person and the only person that makes the decisions. When you're in a company or corporation that decision isn't made by one person alone. There are shareholders and boards of directors where these decisions are made. Not everyone is going to see everything the same way.

In business you have to plans to get to the next level. How to get to that next level in many case have risks and some times the risks doesn't pay off. If the risky investment works out then everyone looks like a genius. When it doesn't work out then everyone looks like a fool, and hindsight is always 20/20.
 
What is it with companies that hire people with PhDs in business related finances yet allow the company to get flushed down the financial toilet while someone like me with just an associates degree in IT security and has managed my finances and taxes far better than they have.
Managing a company's finances is infinitely more complex than your piddly little bank account. People with your mindset are among the most toxic employees a company can employ.
 
South Korea, eh? Well, the executives should be given the option of either pleading guilty or being lead to a bridge of no return to North Korea.
 
Irrelevant company going bankrupt and the executives all bled the company dry by putting it in to debt before the collapse? SAY IT ISN'T SO!
 
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