Today’s extraordinary shareholding meeting for Olympus, which is under investigation for $1.7 billion of fraudulent accounting, lasting just under three hours, was punctuated with angry shouting, protests, a motion to fire the chairman of the meeting, and one surprise.
The investigation into corporate malfeasance and fraud at Japan’s troubled optical equipment maker Olympus, took a new turn on Thursday with the arrest of three former Olympus officials and four others on charges of violating financial filing regulations.
An independent investigative panel for Japan’s troubled optical equipment maker, Olympus, released a report today, which stated that Olympus had covered up to ¥134.8 billion ($1.7 billion) in losses since the 1990s.
The New York Times has a report out Friday on the expanding investigation into whether optics giant Olympus's scandal over missing billions has connections to the yakuza.
After months of allegations of corporate malfeasance, bad investments and illegal acts at the company, on November 11, the Tokyo Metropolitan Police officially began an investigation into the company.
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