Earlier, I posted a summary from PTC's quarterly financial call about the scam where a Toshiba employee used money borrowed from GE Capital Leasing and other firms to "purchase" software from PTC.
PTC has now posted details of the case here. I know understand why GE was suing PTC:
According to published news reports, the Toshiba employee and these other individuals are suspected of diverting some of the proceeds of the financings to a bank account controlled by one or more of them. Following these arrests, it was reported on October 23, 2007 that two former employees of PTC Japan were arrested on suspicion of demanding "hush money" from one of the participants in the fraudulent scheme.The press accounts indicate that the former PTC Japan employees -- who left employment with PTC Japan in 2003 and 2004, respectively -- were no longer working at PTC Japan at the time of the alleged demands.
The fake order wasn't a small amount: US$80 million, and PTC isn't sure it'll get all of it back.
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