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Thread: Breaking news - former Oly execs arrested

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    Breaking news - former Oly execs arrested

    I'm sure that a news article will be posted on this, so here's just a quick summary.

    TOKYO (Reuters) - Three former executives of Japan's disgraced Olympus Corp were arrested on Thursday over their role in a $1.7 billion accounting fraud at the maker of medical equipment and cameras, Japanese media reported.
    Tokyo prosecutors arrested ex-President Tsuyoshi Kikukawa, former Executive Vice President Hisashi Mori and former auditor Hideo Yamada, Tokyo Broadcasting System Television and other media said.
    Prosecutors also arrested three former employees of a major brokerage who advised Olympus on covering up its losses, media reported, without naming the people or the brokerage. ...

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    Re: Breaking news - former Oly execs arrested

    Quote Originally Posted by mhobart View Post
    I'm sure that a news article will be posted on this, so here's just a quick summary.

    TOKYO (Reuters) - Three former executives of Japan's disgraced Olympus Corp were arrested on Thursday over their role in a $1.7 billion accounting fraud at the maker of medical equipment and cameras, Japanese media reported.
    Tokyo prosecutors arrested ex-President Tsuyoshi Kikukawa, former Executive Vice President Hisashi Mori and former auditor Hideo Yamada, Tokyo Broadcasting System Television and other media said.
    Prosecutors also arrested three former employees of a major brokerage who advised Olympus on covering up its losses, media reported, without naming the people or the brokerage. ...
    My attention was drawn to it when I had just heard it in the Australian ABC News, so I started looking up more news details. I hope things can move forward from here & not downhill from a heap of law suits by shareholders that could send the company into meltdown.
    Ross
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