{"id":14652,"date":"2011-11-27T07:44:00","date_gmt":"2011-11-27T07:44:00","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/uncategorized\/olympus-man-to-meet-fbi-officials-on-tuesday-14652"},"modified":"2014-09-02T14:55:39","modified_gmt":"2014-09-02T13:55:39","slug":"olympus-man-to-meet-fbi-officials-on-tuesday","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/olympus-man-to-meet-fbi-officials-on-tuesday\/","title":{"rendered":"Olympus man to meet FBI officials on Tuesday"},"content":{"rendered":"

Whistleblowing former Olympus chief executive Michael Woodford will this week travel to the United States to help FBI officials investigate the financial scandal that cost him his job.<\/strong><\/p>\n

Woodford was fired last month after quizzing boardroom colleagues about suspicious multi-million dollar fees paid to financial advisers.<\/p>\n

Woodford (pictured) will fly to the United States from Tokyo where he has been helping Japanese authorities probe alleged wrongdoing at the 92-year-old camera maker.<\/p>\n

Three Olympus executives quit the firm<\/a> last week as investigations intensified into a crisis that the company admits involves an accounting cover-up stretching back 20 years.<\/p>\n

Earlier this month Woodford told Amateur Photographer<\/a> that he agreed to attend the meeting at the FBI?s request.<\/p>\n

Last month Olympus confirmed that it hired a US firm called Axes America to advise it on the acquisition of British medical equipment firm Gyrus in 2008 – one of the deals at the heart of the controversy that saw more than 70% wiped off Olympus?s corporate value in recent weeks.<\/p>\n

Axes was represented by Hajime Sagawa who had worked for a New York-based Japanese securities company. <\/p>\n

Olympus has denied any ?personal interests? between its directors, Axes or Mr Sagawa.<\/p>\n

Olympus has also denied it broke the law relating to payments made to Axam Investments Ltd, a firm based in the Cayman Islands which was also involved in the Gyrus deal. <\/p>\n

In an interview with Amateur Photographer<\/a> on 17 November, Woodford said: ?We are flying out to New York again to meet the FBI [on 29 November]. I never imagined I’d be doing that ? I thought I was going to be running a medical and consumer electronics business?’ <\/p>\n

In the interview Woodford said he fears the scale of the scandal reaches much further than observers realise.<\/p>\n

‘It’s like a John Grisham novel this whole affair? and then if you understand all the nuances and tentacles it really is,’ he told the magazine.<\/p>\n

Japanese investigators are looking into whether the financial cover-up has links with yakuza, Japanese crime syndicates, the possibility of which has been reported in the press recently.<\/p>\n

Olympus has so far denied any link to the criminal underworld.<\/p>\n

(Picture credit: C Cheesman)<\/p>\n","protected":false},"excerpt":{"rendered":"

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