Olympus Tokyo Offices Raided In Probe Of $2B Fraud

Law360, New York (December 21, 2011, 1:23 PM EST) -- Japanese police raided the Tokyo offices of Olympus Corp. on Wednesday, searching for evidence related to an admitted accounting fraud in which the camera and medical device maker concealed at least $1.7 billion in losses through exorbitant advisory fees paid on costly acquisitions.

More than two months after the company's ousted CEO blew the whistle on the fee scandal, police and investigators from the Tokyo District Public Prosecutors Office and the Securities and Exchange Surveillance Commission pulled documents from a host of Olympus offices, including its...
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