crime

Ousted Olympus CEO Woodford arrives in Japan to meet investigators

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© 2011 AFP

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Japanese companies are not responsible to shareholders. If you opened up the books of all the top Japanese companies that were around before the bubble I`m sure you would see a little book cooking.

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U.S. authorities such as the Federal Bureau of Investigation, the Department of Justice and the Securities and Exchange Commission, as well as the Serious Fraud Office of Britain

Not sure these agencies above would have any jurisdiction over the tokyo offices of olympus, cant see the FBI being able to do much out side of the U.S., same as fraud office of britain.

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@ExportExpert - it seems as thought some of that funny stuff was done across international borders - so - yes, i think those agencies can do something about it. this is now a global economy and i guess countries had better get their affairs in order.

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ExportExpert: If the company is doing business in that country they can easily charge them or fine the company, take Toyota's brake problem, Japanese company but America sued.

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I hope the yakuza get what they so badly deserve!! To rot in jail!!

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I hope they protect him. If anything happens to this guy while he's in Japan there will be an out-roar and Japan can forget business for international companies and investors for years to come.

El, why blame the yaks only? Kikukawa should already be behind bars - along with his cronies. You can't blame just the yaks for this. Blame the Japanese business culture and their greed!

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At least the Yakuza is honest about their criminal activity

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Kikukawa should already be behind bars - along with his cronies

Give them their day in court. While we may believe their guilt it is not fair to anyone to be convicted in the court of public opinion alone. Their day will come, patience is the key.

Better a guilty man remain free for a day, a week, a month, or a year or more, than incarcerate an innocent for even one.

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“Olympus’ story has many tentacles. It’s like an octopus,” he said.

The story of Japan and why justice is rarely, truly served in there. Too many inter-connections between companies, banks, politicians, bureaucrats and even the yakuza. And the public always gets the short-stick because all these other interests justify their crimes as being for the public's good.

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Mr Woodford better be more than clever if he wishes to have all tentacles examined...in this Country some things are best unspoken, unexamined ...

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Give them their day in court

By all means, but that doesnt mean suspects shud be walking around free, there are at least 3-4 who shud be clearly BEHIND BARS awaiting trial, after all a fair bit of $$ was involved or so I heard

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the japanese authorities have been making substantial advances toward eradicating the sociopaths known as the yakuza (if only the usa would do the same with the secret societies, such as the freemasons, that have infiltrated government agencies).

this case will give them a good chance to stomp on a lot of crooked fingers reaching into the coffers of companies like olympus that are run by a bunch of spineless idiots.

if the yakuza-corporate connection is even more extensive than that revealed through this investigation, as in the case of more connected companies tepco, for example, then those crooked fingers could be found to be reaching all the way into the public coffers administered by the elected representatives of the japanese people.

and that might have even greater repercussions across society, like making people pay more attention to who they elect.

three cheers for mr. woodford!!!

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@ubikwit....conspiracy theories aside here for a moment, where have you pulled the information about the yakuza from?

Like I said conspiracy theory aside now, and straight facts about this case please.

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I really like Britons these days. They really know how to go after Japan. The Hawker family was very persistent. This guy is too. You really know how to stick it to em.

Looks like I have to buy my buddy from England a pint. We Americans can learn a thing or two from ya.

Thank goodness Mr. Woodford is safe. Cheers!!

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"also plans to attend a Olympus board meeting on Friday" This is like Kira Yoshinaka going to tea with the 47 Ronin. I hope Woodford wears some body armour and does not rely on the police for protection. His righteousness will not protect him. There are folks in the board room living on borrowed time and ample opportunity to tape knives under the table.

tmarie is right. If Woodford gets knifed in the board room it will be very bad for business. Now could be the time to short a Nikkei tracker fund.

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He was the CEO , just trying to cover his behind.

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if the yakuza-corporate connection is even more extensive than that revealed through this investigation, as in the case of more connected companies tepco, for example

@ubikwit I can assure you 100% that the yaks tentacles extend much, much further into corporate Japan. They are involved in ALL industries and, especially, the finance industry. I have a high level financial analyst friend based in Tokyo and he has told me that and also that the Yaks were partially responsible for the Lehman collapse of 2008. And not only Lehman, the list goes on and on and on...

-1 ( +0 / -1 )

Oh Look! Here is another one:

Tokyo Police Arrest Ex-Ceo For Stock Market Manipulation; Yakuza Links

http://www.japansubculture.com/2011/11/tokyo-police-arrest-ex-ceo-of-tse-listed-company-for-financial-crimes-yakuza-involved/

And the mass extermination finally begins!

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He was the CEO , just trying to cover his behind.

You havn't been following the news, he was CEO for 2 weeks, he found this mess, was removed from CEO by the chairman

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I really like Britons these days. They really know how to go after Japan. The Hawker family was very persistent. This guy is too. You really know how to stick it to em.

As much as I appreciate your sentiments NetNinja, I think Badge 213 is right about his comment.

He was the CEO , just trying to cover his behind.

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Mr Woodford is an ambitious man.. obviously. He's not only trying to examine the octopus' tentacles.. He also wants that CEO post eventually. Let's see if he will have poodles for himself or not...

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@Yubaru

There are several articles by Hiroko Tabuchi in the NY Times, indexed on the following page:

http://topics.nytimes.com/top/reference/timestopics/subjects/o/organized_crime/index.html

including one titled: Billions Lost by Olympus May Be Tied to Criminals

http://www.nytimes.com/2011/11/18/business/global/japanese-police-investigate-olympus.html?ref=business?ref=organizedcrime

and another in the Asahi International Herald Tribune. See article from the November 19-20 edition titled:

"Inquiry into Olympus looks at gangland ties"

which is nowhere to be found online, unfortunately.

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