Olympus Faces $2M Fine For Accounting Scandal

Law360, New York (April 13, 2012, 12:26 PM EDT) -- Japan's securities regulator on Friday recommended that Olympus Corp. be fined 192 million yen ($2.4 million) for allegedly filing false financial reports in a $1.7 billion accounting scheme that has led to criminal charges for the company and a number of executives.

The Securities and Exchange Surveillance Commission's announcement of the fine comes as the camera and medical device maker is restructuring its board of directors and suing five of its directors for mismanagement, and one month after prosecutors brought charges against the company and a...
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