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Posts Tagged ‘Lessons from a whistleblower’

Olympus “Tobashi” Scandal: The Whistleblower Talks

Posted by Larry Doyle on December 5th, 2012 9:07 AM |

The Wall Street Journal reported a year ago tomorrow that an independent panel investigating the  accounting scandal at Olympus, the Japanese maker of cameras and medical imaging equipment, announced that the company had hidden losses of more than $1.5 billion over an extended period.

What was going on in this Japanese version of Enron? A practice known as tobashi, that is, a transferal of assets so as to conceal losses. Sounds very Enron-like. Who was involved and how did this persist for so long?  (more…)

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