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. […]
Today Olympus released an official response to the fraud accusations brought by the former CEO Michael Woodford:
From what I’ve read online, it seems that Olympus got themselves in a big mess. Reportedly, Olympus paid over $675 million (that equals to almost two years company’s earnings) to unknown accounts in the Cayman Islands. The company that received the payments disappeared two weeks later. The payments were supposed to be a commission for […]
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