Former OCZ Technology Group Executives, Including Ex-CEO Ryan Peterson, Charged By SEC

[Guest]

The U.S. Securities and Exchange Commission (SEC) announced charges against OCZ Technologies' founder and former CEO Ryan Petersen, along with the previous CFO, Arthur Knapp.

Former OCZ Technology Group Executives, Including Ex-CEO Ryan Peterson, Charged By SEC : Read more

 

[Onus]

[rant]
Innocent until proven guilty. If guilty though, there's enough dishonesty in all that mess that he should be put down. Any fine or barring from certain positions will be little more than an inconvenience, his lifestyle likely to remain well above the rest of us. If he is guilty, the sentence needs to provide a lesson to others contemplating his path. American society is crumbling largely because there is too much tolerance for willful wrongdoing; there should be NONE. Mistakes, sure; accidents, certainly; "I know it's Wrong, but I'm going to do it anyway" means: get out the bucket to catch the mess when someone musses his hair with a single large caliber round. GAME OVER.
[/rant]

 

[erendofe]

what can I say? This decade has been the outing corruption decade. I suspect that is exactly how history wil characterize it too

 

[Eggz]

Looks like it'll be an interesting case for the SEC. Also, good move on Peterson's part by going to Panama with a Panamanian wife! I wondered whether he married her just for the potential non-extradition status, or whether they were together before all of this was on his mind.

 

[bwohl]

OCZ.. I remember buying their memory on the egg, the memory with a lifetime guarantee? Until the first stick failed, then I was done with them.... I know see the SSDs on the egg .... and pass......

 

[coolitic]

[rant]
Innocent until proven guilty. If guilty though, there's enough dishonesty in all that mess that he should be put down. Any fine or barring from certain positions will be little more than an inconvenience, his lifestyle likely to remain well above the rest of us. If he is guilty, the sentence needs to provide a lesson to others contemplating his path. American society is crumbling largely because there is too much tolerance for willful wrongdoing; there should be NONE. Mistakes, sure; accidents, certainly; "I know it's Wrong, but I'm going to do it anyway" means: get out the bucket to catch the mess when someone musses his hair with a single large caliber round. GAME OVER.
[/rant]

That depends, what do you mean by put down?

 

[Onus]

As the rest of the post explains; if guilty, hold his head in a bucket (to catch the mess) when someone ruins his day with a single large caliber round. If that seems harsh, then maybe Willful Wrongdoing is a bad idea.

 

[synphul]

The newer ocz drives are toshiba owned despite having the ocz brand. Not the same mess they were back before they became part of the toshiba group. It's unfortunate that people pull this sort of scam in the business sector. I'd have to agree though, innocent until proven guilty.

People have a kneejerk reaction anymore, oh this ceo did this or that so boycott their goods. It's all well and good but it's only reacting to a portion of what's known. Just because other companies or ceos aren't making the headlines doesn't mean they're not up to no good. There's just no way to tell, for all we know the ceo's and chairmen of the companies we enjoy their products may be jerks. Bad neighbors, come home and badmouth the wife, swat the dog etc. Not to imply all ceo's are shady but I'm sure the ones we hear of aren't the only ones either. Just means they got caught is all.

In regards to bwohl, you had a memory stick fail. Did they refuse to warranty and replace it under the lifetime warranty? Or assuming that because it had a lifetime warranty it was bulletproof and no hardware with a lifetime warranty should every fail and last indefinitely? I could understand if you returned it and they didn't honor the warranty. Warranties are there though to compensate the customer according the guidelines of protection involved with the specific warranty. They're not in any way shape or form a promise that a product will never fail, for any product.

 

[palladin9479]

what can I say? This decade has been the outing corruption decade. I suspect that is exactly how history wil characterize it too

Oh this kind of stuff has been going on since the origination of investment strategies. Lately we've become a more connected world and have started sharing more information, which includes all the bad stuff. Things that normally would of never made the news are now being reported on and it's lead to the impression that things are getting worse when in fact they've been getting better.

 

[Onus]

Like I first said, innocent until proven guilty. If wrongdoing is to be halted, however, there must be dire consequences for it once proven.

 

[Darkbreeze]

Prison is pretty dire. Loss of all monies gained illegally and a nice stint in the joint seems like it might do the trick if he's guilty. Just sayin'.

 

[Albert Rampo]

OCZ.. I remember buying their memory on the egg, the memory with a lifetime guarantee? Until the first stick failed, then I was done with them.... I know see the SSDs on the egg .... and pass......

they got bought out and its now a completely different company

 

[Albert Rampo]

Oh this kind of stuff has been going on since the origination of investment strategies. Lately we've become a more connected world and have started sharing more information, which includes all the bad stuff. Things that normally would of never made the news are now being reported on and it's lead to the impression that things are getting worse when in fact they've been getting better.

i try to say this to people so many times but they dont get it its like they want to believe that the world is getting worse

 

[mapesdhs]

Have to say I am very impressed with the new OCZ. Ages ago I bought a lightly used Vector 512GB on eBay, fitted into an X79 system I built for someone where it was used as a cache drive for After Effects. About a month ago, after maybe 2 years of use, the drive died; I contacted OCZ and much to my surprise they gave me an RMA straight away; I was sent a new 480GB Vector 180, which is awesome.

Irony is, I own dozens of OCZ SSDs, the above Vector 512GB was the first I obtained which has failed. Kudos to OCZ for RMA'ing something I bought off eBay way back (I did mention this in the RMA request), I know there are many other vendors that would never do that.

Ian.

 

[Caanis Lupus]

Just like all the crap with politicians and other public figures. More information gathered while being easier to distribute said information.
A few things can happen.
They get caught, they clean up, and they stay cleaned up.
They get caught, they clean up their image, and then they keep doing same crap as before being caught hoping not to get caught again.
They don't get caught and look like saints when they may well be the worst of the bunch.
They don't anything bad/wrongful, no one pays them any attention, and they retire.

 

[RainCaster]

The OCZ of today is completely different. The people there are honest, quality focused and take a long term view of customer relationships. I have been very impressed by the reliability of the SSDs I have bought from them since Toshiba took them in.

 

[PaulAlcorn]

The OCZ of today is completely different. The people there are honest, quality focused and take a long term view of customer relationships. I have been very impressed by the reliability of the SSDs I have bought from them since Toshiba took them in.

I agree. I've witnessed a huge change in the company since they came under new management, and to be honest it started even before Toshiba brought them in. They have a real solid team over there now, and the focus is definitely in the right area.

 

[Bob n Wayne]

The SEC contends that Ryan Petersen mischaracterized sales discounts as marketing expenses and instructed employees to create false documentation to conceal the scheme as the company entered into a tailspin due to NAND market volatility and mismanagement. The fact that other employees were involved in the scheme, and the resultant cover-up, is important.
The other senior VP employees were involved in the scheme are still working at OCZ. I am not sure why Toshiba still tolerates those bad people until now. Big question mark?

 

[Darkbreeze]

Maybe because so far those are only allegations. There's a reason we supposedly have an "innocent until proven guilty" clause, even though it generally only applies to those with enough money to make waves. Still, if we start making assumptions of guilt based on allegations alone, we'll quickly be reduced to a state of affairs not unlike North Korea and others where we just start throwing people in some pit or killing them off, without any due process.

Not that they aren't guilty, they probably are, but everybody deserves the benefit of the doubt until proven otherwise.

 

[zakaron]

It is unfortunate that actions like this can tarnish a company's name, even after those individuals are no longer there. Back in 2009 I built a Phenom II machine using OCZ Platimum DDR2 RAM and a 600W power supply. The memory is still in use today, and while the power supply did go bad, they offered an RMA even when it was a few weeks past the 3 year warranty. I figured I'd be out of luck, but they sent a refurbished unit without question. I do not have experience with their SSD, but it does sound like they have improved greatly.