Abit in Trouble?

Discussion in 'News and Article Comments' started by Big B, Dec 17, 2004.

  1. Big B

    Big B HWF Godfather

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    Abit is a motherboard company the vast majority of us are familiar with. According to some info I've run across, there's been some 'questionable accounting' going on over at Abit's Taiwan HQ.

    The TSE also suspects that management at Abit might have embezzled company funds through the issuance of a euro convertible bond (ECB). According to the TSE, Abit invested US$40 million in an offshore company with a book value of only US$3.3 million. The owner of that offshore company then bought a portion of the US$75 million ECB issued by Abit last year.

    I'm not sure how this will pan out or what this means for users of Abit's products or anything, but this certainly is not a good thing.

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