The latest at Dealbook about the Olympus scandal says "the inquiry has now grown to touch nearly every corner of the federal law enforcement arsenal," including Federal prosecutors in Manhattan, the F.B.I., and the Securities and Exchange Commission. Authorities are interested in whether the payments were kickbacks to Olympus officials, money laundering, or something else illicit.
Olympus held a press conference in Tokyo yesterday, at which Executive V.P. Hirashi Mori (one of the directors whom former CEO Michael Woodford called upon to resign in his original internal memo, by the way) "did most of the talking." The article notes that "Tensions flared at the news conference, as reporters berated Mr. Takayama [the newly appointed Olympus president] and his colleagues for long-winded responses. 'What is the point of this press conference if you are not going to address the main issues?' one reporter asked."
In a related note, remember that expert I mentioned who I talked to about the scandal? Based on what he's read, he has now changed his mind and believes that something other than accounting fraud occurred (or is occurring) at Olympus.
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