Olympus hid up to $1.7 billion

A short update about the Olympus fee scandal. As you know it’s a crucial month for Olympus. They have to release their financial report within December 14 otherwise they will be delisted from the Tokyo exchange. And tomorrow the the investigative panel will release their report about the Olympus fee scandal. But first bit of info are already coming out. Reuters reports: “An investigative panel has found Japan’s disgraced Olympus Corp hid up to $1.67 billion in losses from its investors, but is likely to say there is no evidence of involvement by organized crime in the cover-up, a source said Monday.

As I said before, I am crossing the fingers for Olympus. Let’s hope 2012 can be the year where Olympus can restart with new energy and clear ideas from the management!