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

    Meet the deported nurse aiding asylum seekers at US-Mexico border

    Meet the deported nurse helping refugees at the border

    Francisco 'Panchito' Olachea drives a beat-up ambulance around Nogales, taking care of those trying to get to the US.

    The rise of Pakistan's 'burger' generation

    The rise of Pakistan's 'burger' generation

    How a homegrown burger joint pioneered a food revolution and decades later gave a young, politicised class its identity.

    'We will cut your throats': The anatomy of Greece's lynch mobs

    The brutality of Greece's racist lynch mobs

    With anti-migrant violence hitting a fever pitch, victims ask why Greek authorities have carried out so few arrests.