Moneual

It appears that Moneaul's multi-million dollar fraud will not be driving Zalman to bankruptcy after all. Word comes that the Korean courthouse handling the case has decided that Zalman, which was a child company of Moneaul, was not involved in the fraud and holds no responsibility for the actions of the parent company. We should remind you that Moneaul instigated a major financial scandal in Korea, implicating many major banks and causing a direct financial damage of nearly 3.2 Trillion Korean Won (about three billion US dollars). The Korean courthouse decided that Zalman should be severed from Moneaul and continue to operate under their oversight and jurisdiction. As a result Zalman has been allowed to restructure the company, doing so under the supervision of the...