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As a dreaded accounting scandal continues to drag Olympus' name through the mud, federal agents in the United States arrested yet another gentleman in connection with the firm's alleged fraud. Chan Ming Fon, a citizen of Taiwan, was reportedly arrested in Los Angeles today. As the story goes, he w

2 years ago 0 Comments
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Three executives from troubled imaging giant Olympus have pleaded guilty to artificially boosting the company's true value in 2007 and 2008 by concealing losses in financial statements. Former chairman Tsuyoshi Kikukawa, ex-auditor Hideo Yamada and former VP Hisashi Mori were charged with fraud in

2 years ago 0 Comments
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If the recent chapter in Olympus' history was a photo, it'd be a blurry thumb covering the subject's head. But, if reports from Nikkei are correct, it looks like the next one might be a happy family portrait. As suggested earlier this year, Sony is reportedly close to agreeing on a 50 billion yen

2 years ago 0 Comments
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Wondering how this whole Olympus accounting scandal is gonna wrap up? Well, it might simply come to a close with a 200 million yen (about $2.5 million) fine. That's the seemingly tiny amount the Japanese SESC (Securities Exchange and Surveillance Commission) is recommending the company be fined. Ul

2 years ago 0 Comments
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Olympus's entire board handed in its resignation this week, but not before picking a new president and chairman to head up the scandal plagued imaging company. Hiroyuki Sasa, from its medical equipment marketing arm, has been named for the president spot, and Yasuyuki Kimoto, who served as an execu

2 years ago 0 Comments
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Remember that super crazy Olympus accounting scandal we told you about a couple of weeks back? Yeah, well, it just got a lot crazier. The camera maker filed suit in Japan yesterday against its own president, Shuichi Takayama and 18 other past and present executives over the deal in which it worke

2 years ago 0 Comments
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Eke. A nearly-century old outfit is currently giving up office space to Japanese prosecutors, who today moved in on Olympus' Tokyo facilities in a raid surrounding an ongoing accounting investigation. According to reports from The Wall Street Journal and Reuters, the scandal involves many billion

3 years ago 0 Comments
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Oh Lee Kun-hee -- if you keep this up, you're going to make the Enron CEOs look like choir boys. The latest episode in the unending shame-game that is Samsung's corporate improprieties comes in the form of a an actual indictment against the electronic-maker's top man... for fraud. According to a rep

6 years ago 0 Comments