Quanta says name used to de­fraud US$100m

New Straits Times - - Business -

have said.

Bil­lion­aire SoftBank chair­man Masayoshi Son is try­ing to close the Vi­sion Fund, backed by his own com­pany along with money from Saudi Ara­bia and Abu Dhabi’s Mubadala De­vel­op­ment Co. Ap­ple, Qual­comm Inc and Or­a­cle Corp chair­man Larry El­li­son may in­vest US$1 bil­lion each in the fund, peo­ple fa­mil­iar with the mat­ter have said.

The fund’s man­date is to back next-gen­er­a­tion tech­nolo­gies, such as ar­ti­fi­cial in­tel­li­gence and the In­ter­net of things.

SoftBank is al­ready a backer of Didi’s but Son may now be dou­bling down on a bet that tech­nol­ogy will trans­form trans­porta­tion in China — the same way he gam­bled on e-com­merce gi­ant Alibaba and shifts in do­mes­tic con­sump­tion.

“The car-hail­ing busi­ness might be limited in market size, but if you look at the en­tire trans­port in­dus­try and pos­si­bil­i­ties, then Didi is very well-po­si­tioned,” said Zhou Xin, a con­sul­tant at Trust­data, here.

Didi, led by chief ex­ec­u­tive of­fi­cer Cheng Wei, be­came China’s ride-shar­ing leader af­ter buy­ing out Uber’s do­mes­tic oper­a­tions.

As it doesn’t charge taxi driv­ers any fees, the bulk of its rev­enue comes from tak­ing a com­mis­sion from rides in pri­vate cars and limos — a sec­tor that’s been ham­pered by stricter qual­i­fi­ca­tion re­quire­ments for driv­ers and cars.

Didi wants to take ad­van­tage of data on 300 mil­lion users across some 400 cities. The four-yearold com­pany opened an ar­ti­fi­cial in­tel­li­gence lab in Moun­tain View, Cal­i­for­nia this month. Called Didi Labs, it’s al­ready wooed dozens of stal­warts in the field. Bloomberg VILNIUS/TAIPEH: Tai­wan-based elec­tron­ics man­u­fac­turer Quanta Com­puter Inc has ac­knowl­edged that its name was used as part of an email fraud scheme that bilked two United States­based In­ter­net com­pa­nies out of more than US$100 mil­lion (RM441 mil­lion).

US prose­cu­tors last week in­dicted a Lithua­nian man, Eval­das Ri­masauskas, for the fraud.

Ri­masauskas’s al­leged scheme in­volved send­ing emails to em­ploy­ees of the two com­pa­nies ask­ing them to wire money that they owed to the Asian hard­ware ven­dor to the ac­counts of com­pa­nies in Latvia and Cyprus that car­ried the name Quanta.

In or­der to con­ceal his fraud from banks that han­dled the trans­fers, Ri­masaukas forged in­voices, con­tracts and let­ters pur­port­edly signed by ex­ec­u­tives of the two vic­tim com­pa­nies, ac­cord­ing to prose­cu­tors.

In a state­ment on Mon­day, Quanta spokesman Carol Hu said the com­pany had been “im­per­son­ated” as part of the fraud.

Quanta, with a market cap­i­tal­i­sa­tion of US$8.4 bil­lion, is a sup­plier of servers and other hard­ware to ma­jor tech­nol­ogy com­pa­nies. Reuters


Chi­nese ride-shar­ing gi­ant Didi Chux­ing will need to de­cide whether it will take the new funds as it locks horns with Uber Tech­nolo­gies Inc and Al­pha­bet Inc in the de­vel­op­ment of driver­less tech­nol­ogy.


Qatar Air­ways chief ex­ec­u­tive of­fi­cer Ak­bar Al Baker says the air­line will seek for­mally to es­tab­lish the new In­dian air­line soon, with a ten­der for air­craft to fol­low.

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