THE REAL STORY OF THE END
Author: 1.7 billion accounting fraud
Date: 06-26-2020 - 12:01

No jail time for Olympus bosses who committed $1.7 billion accounting fraud

https://www.engadget.com/2013-07-03-olympus-chairman-and-others-sentenced.html

As it turns out, you wouldn't be far wrong: none of the three senior figures sentenced in Japan today for falsifying Olympus Corp.'s financial accounts have been sent to jail.

Former Chairman Tsuyoshi Kikukawa received a three-year suspended sentence, in light of the fact that he didn't make the original decision to hide the firm's financial losses, while a former executive VP and a former auditing officer also got suspended sentences after making similar defenses.

The company itself was fined $7 million.

Meanwhile, the two men accused of starting the fraud, former presidents Masatoshi Kishimoto and Toshiro Shimoyama, have escaped all charges because, as reported by Kyodo News a couple of months ago, too much time has elapsed since the original crime.

Oh well. If there's any upside to this sorry saga, we guess it's the fact that the whistleblower who lost his job after exposing the scandal, former CEO Michael Woodford, eventually saw some restitution.


News from the past for the obsolete Wrote:
-------------------------------------------------------
> "Olympus camera division lost money for the last
> three years"
>
> Only three years!?
>
> [m.dpreview.com]
> ues-statement-disputing-rumors-its-imaging-divisio
> n-will-shut-down-within-a-year
>
> "draws most of its money from medical equipment
> sales"
>
> That's why Japan wants it.
>
> [www.wsj.com]
> a-business-after-84-years-11592996861
>
>
>
>
>
> Pdxrailtransit Wrote:
> --------------------------------------------------
> -----
> >
> [deadline.com]
>
> >
> l-camera-ending-technology-eras-1202969394/amp/#re
>
> >
> ferrer=https%3A%2F%2Fwww.google.com&_tf=From%20
>
> > %251%24s
> >
> > This sucks. Kinda wondered why there have been
> so
> > few new offerings.



Subject Written By Date/Time (PST)
  Say goodbye to Olympus Cameras Pdxrailtransit 06-26-2020 - 10:07
  Fiber paper hanger-on News from the past for the obsolete 06-26-2020 - 11:47
  THE REAL STORY OF THE END 1.7 billion accounting fraud 06-26-2020 - 12:01
  Will donate to the Smithsonian... Pdxrailtransit 06-26-2020 - 12:03
  Re: Say goodbye to Olympus Cameras Old Vet 06-26-2020 - 14:15
  Re: Say goodbye to Olympus Cameras George Andrews 06-26-2020 - 14:47
  I was a Canon Man in my SLR days.. Pdxrailtransit 06-26-2020 - 16:03
  Re: I was a Canon Man in my SLR days.. George Andrews 06-26-2020 - 17:54
  Re: Say goodbye to Olympus Cameras Disco Dave 06-26-2020 - 19:28


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