A trail of dark-suited officials was shown on national television marching solemnly into the Olympus's downtown Tokyo office building.Japanese prosecutors raided the headquarters of Olympus and the home of its former president Wednesday as part of an investigation into the cover-up of massive losses at the camera and medical equipment maker.
A trail of dark-suited officials was shown on national television marching solemnly into the company's downtown Tokyo office building.
Olympus said it would fully co-operate with the investigation by prosecutors, police and financial authorities.
"We apologise deeply again for the great troubles and worries we have caused our shareholders, investors, customers and others," it said in a statement.
Tokyo prosecutors said the home of former president Tsuyoshi Kikukawa, suspected of helping to orchestrate the cover-up, was also raided, as were the offices of three companies used in the scheme.
The deception at Olympus dates back to the 1990s and involved an elaborate scheme to hide ¥117.7bn (£960m) in investment losses. It only came to light in October when then president Michael Woodford blew the whistle on what he thought was strange and excessive spending. Read More
No comments:
Post a Comment