Apex Digital Chairman Arrested In China For Fraud

from the oh,-that-$500-million! dept

Earlier this year, we had a story noting that Apex Digital, known mainly as a distributor of insanely cheap Chinese-made consumer electronics, was doing amazingly well, and planning to move into the computer business as well. It appears, however, that the "amazingly well" part of the equation was helped along by, you know, not actually paying their vendors. Apex's chairman has now been arrested in China on fraud charges, following the news that many companies believe Apex owes them millions of dollars. And you wondered why those DVD players were so cheap?

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