$4.9 Billion Still Missing at Olympus, Murmurs of Yakuza Links Persist

Here are some developments in the ongoing Olympus scandal: investors and a former director are currently calling for fired CEO Michael Woodford to be brought back to clean house and right the ship. At the same time, The New York Times is reporting that Japanese investigators are still trying to understand a $4.9 billion hole in Olympus’ financial records, and believe that over half of that amount were paid to organized crime groups in Japan. More specifically, the company is accused of being linked to Yamaguchi-Gumi, the country’s most infamous yazuka organization.

  • Alan Dove

    Sounds like the world’s leading endoscope maker is due for a thorough probing.

  • Josh Ladella

    $2.5 billion to organized crime groups? Ooh, this is juicy…

  • Guest

    Can someone please briefly explain what’s going on with their company? How are the Yakuza involve–is it implied that the CEO’s made a deal with them, or that the company was taken over forcefully?

  • Anonymous

    More than likely the CEO’s made a deal. Yakuza didn’t sink Olympus into the financial hole they are in, they needed help to cover up that and that’s where the Yakuza come in.