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[Debunked?] Zalman now bankrupt?

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Tech Tweaker

Tech Tweaker

Member
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Joined
Dec 14, 2010
Just read some articles saying that Zalman is filing for bankruptcy and apparently top level employees have been perpetrating a fraud and stealing billions of dollars from the company.

I wasn't really sure where to post this, so please forgive me if it's in the wrong place.

http://www.tweaktown.com/news/40961...an-epic-3-billion-fraud-conspiracy/index.html

http://www.maximumpc.com/zalman_reportedly_files_bankruptcy_allegations_bank_fraud_arise_2014

http://www.hardocp.com/news/2014/11...kruptcy_amidst_fraud_allegations#.VFra6W2wXEs
 
Well seems they had HQ in California and US/Canadian citizenship. So maybe they`ll deport them back to Korea to which under 5 billion KRW penalty of 3 -10 years or fines of up to 500 million KWS.

short version - there 2 billion under life imprisonment.

seems they knew just how much fun to have. :D
 
This is a sad situation. Zalman were genuine competitors to Thermalright back in the day. They made good, reliable products.
 
I thought they were great back in the day, even used some of their products, but lack of innovation and R & D resources left them behind the curve IMO
 
Witchdoctor said:
I thought they were great back in the day, even used some of their products, but lack of innovation and R & D resources left them behind the curve IMO
Click to expand...

One of the guilty party was the engineer... guess he`s expanded his CV by adding corporate fraud to the list :cool:

Have to wonder if the company names salvageable... not uncommon for brand names to change hands or be given the jump paddles. quick someone re-register Zalman :D lol
 
Once more, banks were being idiots. It's generally a good idea to check up on where the guy you loaned millions of dollars to is putting that money when you're giving him the nine-thousand-and-first installment.
 
petteyg359 said:
Once more, banks were being idiots. It's generally a good idea to check up on where the guy you loaned millions of dollars to is putting that money when you're giving him the nine-thousand-and-first installment.
Click to expand...

Well they can just rack up the premium and charge joe public for it... at least that's how it works in the uk. 100% certain of that because I had a MP explain it to be the case in a personal correspondence. so that's nice :)
 
Well, this comes as a surprise.

With so many well respected websites (6+) reporting the same thing, I thought it quite unlikely that it would be untrue. Zalman's refusal to give any response on the matter (several of the websites said they had tried to reach Zalman, but that Zalman had refused to discuss it) seemed to lend credibility to this conclusion.

I read one brief snippet on a website yesterday saying something along the lines that it might not be true, but they gave no information to back up this assertion. So that one seemed non-credible. Especially since there was less than a paragraph on the matter.

I hate it when the internet fools the public like this, with false announcements and news information.
 
Regardless if they go bankrupt or not, I'm not sure if it would be any loss to our market as they had nothing interesting for a long time. In last couple of years their cooling was average or below average comparing to other products in similar price. Their cases were pretty average and not best designed even though higher series were high quality. Some other products were barely available.
My last contact with Zalman was when I made flash drive review for them, drive broke after 2 months and their support didn't even respond for my mails.
They had some good products in the past but count maybe 5-7 years ago, not recently.
 
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