Author Topic: new york times reports olympus scandal approached 5 billion (Read 735 times)

cosinaphile · « **on:** November 18, 2011, 11:26:27 AM »

this is from the new york times website:

TOKYO — Japanese officials say that at least $4.9 billion is unaccounted for in a financial scandal at Olympus and are investigating whether much of that money went to companies with links to organized crime.

Michael Woodford, Olympus's ex-chief executive, said he was fired after raising questions.
In a memo prepared by investigators and circulated at a recent meeting of officials from Japan’s Securities and Exchange Surveillance Commission, the Tokyo prosecutor’s office and the Tokyo Metropolitan Police Department, officials say they are trying to determine whether Olympus worked with organized crime syndicates to obscure billions of dollars in past investment losses and then paid them exorbitant sums for their services.

The memo — a copy of which was obtained by The New York Times from a person close to the official investigation — appears to link the Olympus losses for the first time to organized crime groups.

It also suggests that investigators believe illicit payouts from Olympus went far beyond the roughly $1.4 billion in merger fees and acquisition payments that have come under recent scrutiny, potentially making it one of the biggest scandals in Japanese corporate history.

http://www.1001noisycameras.com/2011/11/olympusgate-updates-nearly-5-billion-missing-ex-ceo-updates.html

this gets more insane by the minute

count_zero · « **Reply #1 on:** November 18, 2011, 02:18:25 PM »

I asked getOlympus Q&A yesterday if I could get a large E-P3 grip that has a Yakuza Dragon logo on it. They said they will have the black large grips available start of December.

cosinaphile · « **Reply #2 on:** November 18, 2011, 02:35:03 PM »

Quote from: count_zero on November 18, 2011, 02:18:25 PM

I asked getOlympus Q&A yesterday if I could get a large E-P3 grip that has a Yakuza Dragon logo on it. They said they will have the black large grips available start of December.

maybe a special edition e-p3 grip specially made for the pinkyless shooter?

Em5 Pete · « **Reply #3 on:** November 18, 2011, 02:46:57 PM »

What

$5B?

Organized Crime...... Well, it could paying the bully not to beat you up

Is the camera division going to say alive?

What Else can be revealed

voyager · « **Reply #4 on:** November 18, 2011, 04:43:29 PM »

Well, that's like the price of one Olympus m.Zuiko 75-300mm. I'm sure they'll be fine.

tamoio · « **Reply #5 on:** November 19, 2011, 04:19:43 PM »

Of course the forum-rats all say: "geez, for 5 billion we should at least get an internal viewfinder on an E-P3"

cosinaphile · « **Reply #6 on:** November 19, 2011, 09:13:19 PM »

Quote from: tamoio on November 19, 2011, 04:19:43 PM

Of course the forum-rats all say: "geez, for 5 billion we should at least get an internal viewfinder on an E-P3"

ya think

..... 5 large...... very very very large, is a lot of dough

RT_Panther · « **Reply #7 on:** November 19, 2011, 09:39:35 PM »

Sorry....
But I can't help but wonder what MFT prices could have been.....

Olympus set the price bar for us all...... $:-\$

lisandra · « **Reply #8 on:** November 20, 2011, 02:07:11 AM »

This means that Olympus will he removed from the Tokyo stock exchange...surviving after that is quite a feat. Panasonic might be flying solo soon...

new york times reports olympus scandal approached 5 billion