Olympus To Pay $646M To Settle Kickback, FCPA Probes
Law360, New York (March 1, 2016, 1:01 PM EST) -- Japanese camera and medical equipment maker Olympus’ U.S. arm will pay $646 million to settle two different investigations from the federal government over claims it entered into a kickback scheme with physicians and hospitals and violated the U.S. Foreign Corrupt Practices Act, the U.S. Justice Department announced Tuesday.
Pennsylvania-based Olympus Corp. of the Americas will pay a $312.4 million criminal penalty over the alleged kickback scheme and $310.8 million to settle False Claims Act violation allegations, which the Justice Department said is the most a medical device company has ever paid under the act. Additionally, the company’s subsidiary, Olympus Latin America...
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