Oh no! Olympus to be prosecuted by UK fraud agency (Says BBC).

Michael Woodford and Tsuyoshi Kikukawa

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I was happy that the Olympus manager fraud story was over…but in reality it isn’t! BBC reports that “Olympus and its UK subsidiary Gyrus Group will be prosecuted by the UK’s Serious Fraud Office.”

Olympus answered that:
“it is difficult to predict the outcome of this matter or estimate the level of fines that may be imposed on the company and Gyrus Group Limited, the potential financial impact of this prosecution on Olympus group’s business is unclear”.

I really hope the prosecution will not have consequences for the company and their effort to write Black Numbers again!