Olympus releases panel findings into losses scandal
December 6, 2011
Olympus disguised investment losses of up to $1.67 billion but there is no proof of links to Japan crime gangs, an independent report into the scandal-hit company is expected to find.
In the report ? set to be released today ? the Olympus-appointed panel will not press Olympus to pursue criminal charges, according to news agency Reuters.
Meanwhile, a joint investigation by Tokyo police, prosecutors and the market regulator has yet to release the results of its findings.
Yesterday, when approached by Amateur Photographer, an Olympus Tokyo spokesperson would neither confirm nor deny that the independent third-party report was set to be published today (Tuesday).
The FBI in the US and the UK?s Serious Fraud Office are carrying out their own separate inquiries.
Olympus faces being delisted from the Tokyo Stock Exchange if it fails to submit its business results by 14 December.