New Olympus scandal as bribes inquiry is launched
Olympus, the Japanese camera giant still reeling from the corruption exposed by British whistleblower Michael Woodford, was yesterday thrown into yet another scandal as it admitted being under investigation for bribery.
The maker of medical endoscopes is being investigated for travel, meal and entertainment expenses lavished by its US subsidiary on doctors in Brazil.
Referring to the US Department of Justice, new chairman Yasuyuki Kimoto told Bloomberg: "We understand DOJ is trying to gather lots of information on us." The latest scandal to break out around the stricken company emerged just hours after a medical equipment maker that was an Olympus shareholder sued it over last year's accounting fraud.
Terumo holds a 2.5 per cent stake in the company and is suing for the collapse in the value of that stake since the crisis broke last year. Some analysts interpreted its claim as a tactic to pressurise the company into accepting a Terumo plan to invest $640m (£408m) into Olympus.
Mr Woodford issued a statement in which he said that he never had responsibility for the division involved in the Brazilian payments.
- 2 Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
- 3 Andy Murray takes to Twitter to show off his Christmas jumper
- 5 Top 10 travel destinations for 2015: From Haiti and Alaska to Namibia and Iceland
PlayStation and Xbox hacked by Lizard Squad
Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
Dublin court rules brain-dead pregnant mother's life support can be switched off
Margaret Thatcher 'expressed fears of Asian rising' at Anglo-Irish summit in 1984
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...