Three Olympus directors at centre of fraud scandal fall on their swords ... Daily Mail (UK)

Discussion in 'Digital Cameras' started by Bruce, Nov 24, 2011.

  1. Bruce

    Bruce Guest

    Posted without comment:

    Three Olympus directors at centre of fraud scandal fall on their
    swords day before ousted British chief exec tells them 'the game is
    up'

    Ousted CEO Michael Woodford suggests 'criminality' could be involved

    By TED THORNHILL
    Last updated at 7:28 PM on 24th November 2011

    Three Olympus directors at centre of fraud scandal fall on their
    swords day before ousted British chief exec tells them 'the game is
    up'

    Three executives of Japan's Olympus Corp resigned today ahead of a
    boardroom showdown with ousted CEO Michael Woodford, as the British
    whistleblower said he would not be surprised if ‘some criminality’
    were involved in the scandal engulfing the once-venerable firm.

    The camera and endoscope maker admitted this month it hid losses on
    securities investments for two decades, blaming former president and
    chairman Tsuyoshi Kikukawa, former vice-president Hisashi Mori and
    internal auditor Hideo Yamada for the cover-up.

    But where the money trail leads remains a mystery, and speculation
    simmers that organised crime syndicates may somehow be involved.

    Kikukawa, who quit as president and chairman on October 26, and Mori,
    who was fired, had tendered their resignations from the board with
    immediate effect, as had Yamada, who could attend board meetings but
    not vote, Olympus said in a statement.

    And new President Shuichi Takayama said in a separate statement the
    current management team was ready to quit once ‘the path to Olympus's
    revival became clear.’

    Woodford, 51, who earlier met with Japanese police, prosecutors and
    regulators in Tokyo, expressed confidence that the authorities would
    fully investigate the scandal.

    ....

    For the whole article, go to:
    http://preview.tinyurl.com/c2vqd66`
    or:
    <http://www.dailymail.co.uk/news/art...ousted-British-chief-exec-tells-game-up.html>
     
    Bruce, Nov 24, 2011
    #1
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  2. Bruce

    John Turco Guest

    <edited>

    BEWARE THE YAKUZA!!!!
     
    John Turco, Dec 22, 2011
    #2
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