Offices and homes of executives connected to the Olympus accounting scandal have been raided by Japanese police. The move comes after a report commissioned by the company showed that losses of $1.7bn had been concealed for over a decade. However, the company did successfully file its amended accounts by the December 14th deadline imposed by the Japanese stock exchange to avoid being delisted. These restated accounts showed significantly reduced assets, and the company is now rumored to be planning to issue more shares in an attempt to raise money.
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12-21-2011, 09:51 PM
Olympus raided over accounting scandal
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