Olympus Cameras 2



The camera never lies 2. (Image via Wikipedia)

I’ve written on this blog before on this interesting story of the former UK CEO of Japan’s Olympus Cameras and this $1 billion of obscure (suspicious?) payments. Well Reuters (please see attached story) has just reported that the Serious Fraud Office has launched an investigation (not confirmed by SFO at the time of writing) into what has been going on. Given that this story will probably run and covers whistleblowing, ethics, internal controls, different cultures and what POCA might consider “criminal property”, I’ll be following this story, plus background in more detail on this over the coming days.

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Related articles

• Olympus Accounting Facing Formal Probe From U.K. Prosecutors (businessweek.com)
• Olympus used acquisitions, deal fee to hide losses (seattletimes.nwsource.com)
• SFO looks into Olympus' $687m 'advisory fees' during Gyrus deal (telegraph.co.uk)
• Olympus appoints high court judge to head 'improper payments' probe panel (telegraph.co.uk)
• Olympus vice-president sacked (techradar.com)
• Clash of corporate cultures costs British chief of Olympus his job (guardian.co.uk)