Thursday, December 22, 2011

Japan - Tokyo Olympus buildings raided in accounting scandal that hid 1.3 billion euros of losses from shareholders

Published on Dec 21, 2011 by
http://www.euronews.net/ Dozens of investigators have raided buildings belonging to the Japanese company Olympus in Tokyo.

Their inquiry revolves around an accounting scandal that hid 1.3 billion euros of losses from shareholders and customers over the last two decades.

Investigators also headed to the luxury development where a former company president lives.

The inquiry is a joint effort by Tokyo's police, prosecutors and financial regulators.

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