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

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months

    I remember the day … I designed the Nigerian flag

    I remember the day … I designed the Nigerian flag

    In 1959, a year before Nigeria's independence, a 23-year-old student helped colour the country's identity.