Olympus probed over scandal

Camera and medical giant embroiled in three-way investigation for under-reporting decades of losses.

    Camera and medical giant Olympus is being investigated by the FBI and the UK's Serious Fraud Office for engaging in activities aimed at hiding decades worth of investment losses from company stakeholders.

    Facing scandal, the company's leadership recently admitted that some of its executives were trying to conceal investment losses. The scale of the cover-up has prompted a three-way investigation, involving the police, prosecutors and a securities watchdog.

    Repercussions of the case are likely to be felt beyond the company, with questions now being asked of associated accounting firms over why they failed to spot the irregularities.

    Al Jazeera's Florence Looi reports.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Israel’s settlements: 50 years of land theft explained

    Israel’s settlements: 50 years of land theft explained

    On the anniversary of UN Resolution 242, Al Jazeera explores the illegal Israeli settlement enterprise.

    Robert Mugabe: Portrait of a presidency

    Robert Mugabe: Portrait of a presidency

    Some key moments in the life of the man who led his country from independence in 1980 until November 21, 2017.

    When is Thanksgiving Day and why is it celebrated?

    When is Thanksgiving Day and why is it celebrated?

    In the US, Thanksgiving Day will be celebrated on Thursday, November 23.