Olympus Charged In UK Over $1.7B Accounting Fraud

Law360, New York (September 4, 2013, 11:41 AM EDT) -- Prosecutors in the U.K. Serious Fraud Office have leveled criminal charges against Olympus Corp. related to a $1.7 billion accounting fraud scandal that has rocked the Japanese camera and medical equipment maker, the agency said Wednesday.

Olympus and a U.K. subsidiary, Gyrus Group Ltd., were charged with making a misleading, false or deceptive statement to the subsidiary's auditor between April 2010 and March 2011. The charges stem from an accounting fraud in which Olympus admitted to concealing at least $1.7 billion in losses through exorbitant advisory...
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