A high-stakes fraud case between tech company Prediwave and Hong Kong investment firm New World TMT is nearing a dramatic end after California Superior Court Judge Jack Komar ordered terminating sanctions against Prediwave's CEO. The rare punishment is the result of Jianping Qu's failure to show at mandatory settlement talks and his admission that he lied in depositions. Komar said a default judgment against Qu will result; an attorney for plaintiff New World predicts a judgment of at least $670 million.