Olympus ‘committee’ to probe mystery fees scandal (update 11.40am)

Olympus is setting up an ‘independent committee’, made up of lawyers and accountants, to investigate controversial acquisitions following claims made by its ousted CEO, the firm said today.

Olympus is setting up an ‘independent committee’, made up of lawyers and accountants, to investigate controversial acquisitions following claims made by its ousted CEO, the firm said today.

The move follows demands by major Olympus shareholders for an investigation into fees paid to financial advisers, in the wake of claims made by former CEO Michael Woodford.

‘Olympus Corporation intends to disclose any further information about this as soon as it is available,' Olympus Tokyo said this morning.

Olympus confirmed it has received 'letters from the shareholders' over previous mergers and acquistions.

'We are now preparing responses to the questions, and any further information that should be disclosed will be promptly made public,' added Olympus.

Last night the Serious Fraud Office (SFO) confirmed that it received a second visit from Woodford on Wednesday.

The news came as Woodford told Reuters news agency he has sought police protection amid fears for his own safety.

The SFO, which has yet to decide whether to launch an investigation into the matter, today told Amateur Photographer it had no further comment.

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