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NEWS ABOUT: Olympus

Olympus Exec Found Hanged in Park

Troubled firm's India director dead in apparent suicide

(Newser) - A top executive of scandal-plagued Japanese firm Olympus has been found hanged in a park in India in an apparent suicide. The body of Tsutomu Omori, chief of the company's medical equipment business in India, was found hanging from the park's boundary wall, Reuters reports. Police found what... More »

Ex Olympus Execs Arrested Over Cover-Up

Ex-chairman, others implicated in $1.5B loss dating to '90s

(AP) - Japanese prosecutors today arrested three former Olympus executives, including the company's ex-chairman, over their alleged roles in orchestrating a cover-up of massive losses at the camera and medical equipment maker. Former chair Tsuyoshi Kikukawa, along with executives Hideo Yamada and Hisashi Mori, were arrested on charges of violating securities... More »

Buffet: Eurozone Not Working

Billionaire investor hails Japanese business during Fukushima visit

(Newser) - The European debt crisis has exposed serious problems in the 17-country Eurozone that will require radical changes to fix, warns Warren Buffett. There is a "major flaw in the euro system," the billionaire investor said yesterday while on his first visit to Japan. "That flaw won't... More »

Missing Olympus Billions Tied to Yakuza Crime Gangs

$4.9B unaccounted for at Japanese firm

(Newser) - To make a serious financial scandal much, much worse, simply quadruple the sums involved and add gangsters. Investigators probing the shady accounting at Japanese camera maker Olympus believe that in addition to the $1.4 billion the firm paid in merger fees to mask losses, some $4.9 billion is... More »

Olympus Admits Hiding Decades of Losses

Accounting shenanigans could doom Japanese firm

(Newser) - Olympus has done an about-face after weeks of denials, and admitted to financial wrongdoing on a scale that could doom the Japanese camera and medical equipment maker. The company has admitted that it used acquisitions to hide over $1 billion in investment losses dating back to the 1990s, the New ... More »

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