Rumors from Japan: Olympus linked to organized crime syndicates

ヤクザ = Yakuza

NYTimes got their hands on an internal memo from the current ongoing Olympus investigation in Japan and it seems that the initial accusations of organized crime involvement may be more than just a rumor. Currently there are $4.9 billion that are not accounted for and there is a suspicion that portion of those funds went to organized crime group a.k.a. the Yakuza:

"The memo says investigators believe that over half of that amount has been channeled to organized crime syndicates, including the country’s largest, the Yamaguchi Gumi. The memo does not make clear whether Olympus knew about those links. But if confirmed by investigators, an association with organized crime could prompt a delisting of Olympus shares from the Tokyo Stock Exchange, under the exchange’s rules."

Imagine what $4.9 billion could have done for Olympus if they were invested in R&D and marketing - this is from today's AP interview with the former CEO MIichael Woodford:

"However, he expressed frustration that Olympus did not have more resources to invest in a market that is becoming ever more competitive, and now pitching up against the likes of camera giant Nikon in the CSC arena."

This entry was posted in Olympus and tagged . Bookmark the permalink. Trackbacks are closed, but you can post a comment.
  • Back to top