Everyday there are more and more true (or false?) news about the Olympus fee scandal. As usual take all news with a grain of salt. It’s so hard to understand what’s REALLY happening behind the scenes. There might be some kind of “obscure” interest that we are not aware of. The only thing I hope is that Olympus can soon take action to stop the never ending negative media reports.
The New York Times (Click here) writes that “In a memo prepared by investigators and circulated at a recent meeting of officials from Japan’s Securities and Exchange Surveillance Commission, the Tokyo prosecutor’s office and the Tokyo Metropolitan Police Department, officials say they are trying to determine whether Olympus worked with organized crime syndicates to obscure billions of dollars in past investment losses and then paid them exorbitant sums for their services.” and “The memo says investigators believe that over half of that amount has been channeled to organized crime syndicates, including the country’s largest, the Yamaguchi Gumi. The memo does not make clear whether Olympus knew about those links. But if confirmed by investigators, an association with organized crime could prompt a delisting of Olympus shares from the Tokyo Stock Exchange, under the exchange’s rules.”
There is another huge surprise coming out via Z3n.tv (Click here) reports that Goldman Sachs earned $26 million by short selling “approximately 830,000 Olympus stocks the day before Woodford was dismissed“. As you see there are so many obscure interests behind the story! If we really would put a Lupe on all companies and banks we might discover that the whole finance world is a mess. But as I said many times, I am a small writer living in the middle of the alps. My only hope is that Olympus employees will not be affected by that mess.