Olympus Panel Finds No Connection To Organized Crime

Law360, New York (November 21, 2011, 2:03 PM EST) -- A third-party panel examining Olympus Corp.'s acquisitions in connection with claims it hid losses through excessive advisory fees had found that the deals didn't benefit “anti-social forces,” or organized crime, the Japanese camera and medical device maker announced Monday.

While the panel found Olympus engaged in illegal activities such as deferring the posting of losses on investment securities and covering up those losses by paying exorbitant adviser fees, it said any such payments did not ultimately go to organized crime syndicates.

The assurance came after The...
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