Few quick updates on the Olympus fraud accusations by their former CEO Michael Woodford:
- “Ousted Olympus Corp chief executive Michael Woodford is consulting police over whether he needs protection after passing “new information” to British fraud investigators about the Japanese company’s irregular payments to advisory firms” (Reuters)
- “The veteran banker, Hajime ‘Jim’ Sagawa, owned an obscure U.S. financial firm which was hired by the endoscope-maker five years ago to provide what later turned out to be stunningly expensive advice, a fee of $687 million (435 million pounds), the documents show” (Reuters)
- “The $687 million fee Japan’s Olympus Corp paid its financial advisers for the $2.2 billion purchase of a British medical equipment maker is one for the record books, literally” (Reuters)
