UK's SFO Opens Inquiry Into Japan's Olympus
16 November 2011 - 11:20PM
Dow Jones News
The U.K.'s Serious Fraud Office confirmed Wednesday that it has
opened an inquiry into Olympus Corp. (7733.TO) after receiving
information from the Japanese camera maker's ousted Chief Executive
Michael Woodford over the group's attempt to hide investment
losses.
"We can confirm we have opened an inquiry into Olympus and are
liaising with other organizations and international colleagues
following information given to us by the Olympus CEO," the SFO said
in a one-sentence statement emailed to Dow Jones Newswires.
Woodford provided the SFO information on Oct. 17 and 19, a
spokeswoman for the organization said.
Olympus last week admitted it had covered up investment losses
from the 1990s and then tried to clean up its books with four
acquisitions totaling near $3 billion.
-By Lilly Vitorovich, Dow Jones Newswires; 44-0-207 842 9290;
lilly.vitorovich@dowjones.com
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