Read full article at SourceFor those that have built custom computers in the last 15 years, Zalman is a name associated with cutting edge cooling technology for its entries into water cooling, quiet alternatives to stock CPU coolers, and fan-less designs. The company grew into popularity with its distinctive, round CPU copper coolers that could be found on several series of AMD and Intel processors. Back in 2011, the company sold a 60 percent stake to robotic vacuum cleaner manufacturer Moneual.
In what appears to be a large-scale orchestration of corporate fraud, executives from Moneual created false revenue reports and inflated exports to the US. With the falsified records, Moneual was able to secure 3.2 trillion Korean won ($2.93 billion) in loans and additional tax incentives over more than five years. After acquiring a stake in Zalman, Moneual reportedly used the cooler company's revenues to keep itself afloat, running Zalman into the ground in the process.
According to the Korea Times, the fraud was only discovered after Moneual failed to pay 500 billion Korean won ($458 million) in matured export bonds on October 20 to NongHyup Bank and the Korea Industrial Bank (KDB). The company filed for court receivership.
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And here (techreport)
