Newegg Sued by Korean Banks for Perpetrating Ponzi Scheme

[Zarathustra[H]]

Wait, B&H sells computer parts? might need to check them out again - its been years.

Yeah, they sell all kinds of stuff now, including cellphones, even some great used ones for low prices.

I only seem to remember this whenever reminded. I guess my brain still files them under "a place to buy camera stuff"

 

[Deleted member 93354]

Plus I don't get bent over on taxes, now that Amazon has a [useless] shipping warehouse in Central FL that effs me on taxes and doesn't get me products up here to NW FL any faster than Newegg can.

I've had to again start using Newegg to save on Tax and a few dollars here and there.

You do realize, legally, you are still obligated to pay the tax at the end of the year. If the state of audits your tax return and checks your bank accounts, you could be royally bent over.

I can't tell if people just choose to ignore the law and take their chances, or are ignorant of the fact that you still have to pay the tax for out of state purchases (if you didn't pay the tax already)

 

[ir0nw0lf]

You do realize, legally, you are still obligated to pay the tax at the end of the year. If the state of audits your tax return and checks your bank accounts, you could be royally bent over.

I can't tell if people just choose to ignore the law and take their chances, or are ignorant of the fact that you still have to pay the tax for out of state purchases (if you didn't pay the tax already)

Well aware. Hand count of everyone on the forums here who actually pays those taxes. I'll be waiting...

 

[Master_shake_]

So company manages to trick Korean banks to the tune of a billion dollars, and now heads need to roll? Is that the gist of things?

Here's an idea, if you're giving out loans of that magnitude spend a little more diligence in looking at your client, I mean they practically give you a rectal exam when you want so much as a home loan, and that's tiny money.

Responsibility is overrated.

Its way easier to sue.

 

[os2wiz]

You do realize, legally, you are still obligated to pay the tax at the end of the year. If the state of audits your tax return and checks your bank accounts, you could be royally bent over.

I can't tell if people just choose to ignore the law and take their chances, or are ignorant of the fact that you still have to pay the tax for out of state purchases (if you didn't pay the tax already)

And you my noble man Pay those taxes out of the high moral imperative you feel to uphold our "just" and "democratic" capitalist state??? Why are you even bringing this issue up????

 

[_l_]

Newegg still makes it insanely easier to build and compare specs and etc when I am researching a new computer build since the entire site is geared toward that purpose. I could use newegg and then buy everything somewhere else I guess, but I value that part of the site and use it all the time so I generally support them by purchasing the majority of equipment from them. Sometimes I'll buy one or two big ticket items from the build on amazon if it saves me more than just a few bucks. As soon as Amazon starts listing *full* specifications of computer components with photos and etc, and allowing me to very easily search by those specs and compare between them, then maybe I'll make the complete switch.

and Newegg's return policy is unheard of; more than once they gave me a full refund on an opened item, no restock fee and paid all shipping (said it was for customer loyalty)

 

[rudy]

So company manages to trick Korean banks to the tune of a billion dollars, and now heads need to roll? Is that the gist of things?

Here's an idea, if you're giving out loans of that magnitude spend a little more diligence in looking at your client, I mean they practically give you a rectal exam when you want so much as a home loan, and that's tiny money.

Have you ever had a home loan? Because no banks don't give you a rectal exam, its actually pretty easy to get a loan that is why we had the financial crisis and BTW they are back to subprime lending again, calling it alternative lending. The problem with bankers who authorize loans is they are great number crunchers but know nothing about the products and services they are actually giving people loans to grow or purchase, which makes sense because they cant know everything. So they rely on balance sheets and such. On top of that there are many products in the world that are sold for very high prices and are perfectly legitimate businesses. So how is the bank really to know they are being defrauded? Maybe there is just some trend in the market and any time you can get multiple people in on a scam you can easily take a lot of money from a bank. For instance look at something like Versace, if you showed them receipts for orders for purses that cost $5000 maybe someone would say that must be fraud, but its not, people really pay that much for purses that cost $30 to make.

 

[Deleted member 93354]

Well aware. Hand count of everyone on the forums here who actually pays those taxes. I'll be waiting...

I'm one

 

[Deleted member 93354]

And you my noble man Pay those taxes out of the high moral imperative you feel to uphold our "just" and "democratic" capitalist state??? Why are you even bringing this issue up????

Because it's the law. And if I get audited I don't want the headache and penalties.

 

[KarsusTG]

I have not purchased from the egg in a while either. I mostly just use it as a search engine for amazon using hover hound...