Olympus to Be Charged in U.K. for Misleading Accountants
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Olympus Corp., whose former president revealed a $1.7 billion accounting fraud that lasted 13 years, was charged in the U.K. for allegedly deceiving auditors at a subsidiary.
Olympus’s Gyrus Group Ltd. unit misled auditors between April 2010 and March 2011, the Serious Fraud Office said in a statement today. The first court hearing on the matter will take place Sept. 10, the SFO said. The potential financial impact of the prosecution on Olympus’s business is unclear, the company said in a statement to the Tokyo stock exchange.