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First ABIT, Now Acorp Get Caught in Cookie Jar - First ABIT, Now Acorp Get Caught in Cookie Jar
Mon, January 10 2005 | 12:15PM | PermaLink Feedback?
With all the alleged fraud that is apparently taking shape as companies file their year end financial reports, one has to wonder just how strong the Taiwanese motherboard manufacturers are. Was 2004 really such a bad year for sales, and if it was, what caused the slump?

"Taiwan Securities Exchange has decided to downgrade the stock of Acorp Electronics to requiring full delivery, starting tomorrow, on suspicions that the motherboard maker may have committed forgery in its business transactions.

The OTC’s decision came after KPMG CPAs, a public accounting firm commissioned to certify Acorp’s financial reports, suspended its contract with Acorp last week and declined to endorse its financial reports for lack of sufficient trade documents.

Documents released by Acorp last week showed that the company had been cheated by a group of five companies for NT$250 million late last year, not just by one company..."

Original URL, circa 2005:

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