Tag: Olympus Corp

TOKYO (Reuters) – Japan’s market watchdog on Friday recommended the Financial Services Agency (FSA) fine Olympus Corp about 200 million yen ($2.5 million) for false accounting in one of the country’s biggest corporate scandals. The recommendation, made by the Securities Exchange and Surveillance Commission (SESC), was expected as part of legal procedures and comes after prosecutors last month charged the company and six key figures in the $1.7 billion accounting fraud. …

TOKYO (Reuters) – Japan’s securities watchdog became on Tuesday the latest authority to file a criminal complaint against Olympus Corp, some former executives and outside advisers over the company’s $1.7 billion accounting fraud. The Securities Exchange and Surveillance Commission (SESC) said it had requested criminal charges be filed by public prosecutors against individuals involved in dubious mergers and acquisitions used to hide losses in one of Japan’s biggest corporate scandals. …