Four major banks from South Korea have filed a lawsuit against Newegg, a US-based computer parts retailer. The banks claim Newegg and ASI Corp engaged in a Ponzi-like scheme with Moneual, a South Korean electronics firm. Newegg has publicly denied any wrongdoing. The four banks are looking to recover $230 million from the hundreds of millions of dollars they loaned them to Newegg. The company defaulted on the loans in late 2014 and still owes $1 billion.
Source: https://www.bleepingcomputer.com/news/hardware/banks-sue-computer-parts-site-newegg-for-participation-in-massive-fraud-scheme/