South Korean Banks Accuse Newegg, ASI Of Ponzi Scheme (Updated)


Update, 10/24/17, 6:05am PT: After this story's publication, we (Tom'sHardware) received the following statement from Matt Strathman, Newegg Legal Counsel, North America:

Newegg prides itself on conducting business fairly, ethically and honestly. The company vehemently denies the allegations in the complaint filed last week, and Newegg intends to vigorously defend itself against those unfounded charges.

Original article: 10/23/17, 11:00am PT:

Every system builder knows Newegg. The retailer is a popular source of components, peripherals, and other technological goodies. Soon it might be famous for another reason—allegedly helping Moneual fraudulently raise $3 billion in financial backing off the back of "massive" HTPC sales. The Los Angeles Times reported that four South Korean banks have filed a lawsuit against Newegg and ASI claiming they both helped Moneual.

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Never argue with a pig. It makes you look foolish and it anoys the hell out of the pig!


When it comes to today's corporate greed, Diogenes would be a long time looking.

I never get lost, but I do explore new territory every now and then.