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

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    We Are Still Here: A Story from Native Alaska

    We Are Still Here: A Story from Native Alaska

    From Qatar to Alaska, a personal journey exploring what it means to belong when your culture is endangered.