Former Singapore banker arrested in U.S. over Olympus fraud

reuters.com 21 Dec '12, 7am

Former Singapore banker arrested in U.S. over Olympus fraud

By A. Ananthalakshmi and Erin Geiger Smith SINGAPORE/NEW YORK | Fri Dec 21, 2012 2:16am EST SINGAPORE/NEW YORK (Reuters) - A former Singapore banker was arrested in Los Angeles on Thursday and accused of helping "liquidate" hundreds of millions of dollars in an accounting fraud at Olympus Corp (7733.T ), one of the biggest corporate scandals in Japan's history. Chan Ming Fon, a one-time bank vice president, is the latest former executive and the first from outside of Japan to become ensnared in the $1.7 billion accounting cover-up at the camera and medical equipment maker. The company has admitted it used improper accounting to conceal massive investment losses under a scheme that began in the 1990s. Court papers in the United States said Chan was paid $10 million by Olympus or entities controlled by Olympus for his role in the fraud. The case against Chan was filed in a f...

Full article: http://www.reuters.com/article/2012/12/21/us-olympus-arre...

Tweets

@Russian_choc_ja » 22 Dec '12, 2am
RT @M_NYFP: オリンパスの損失隠し問題に深く関与していたシンガポールの元銀行員が、ロスで逮捕。via @reuters Former Singapore banker arrested in U.S. over Olympus fraud [link]
@Keith_Wyss » 22 Dec '12, 12am
@Reuters: Former Singapore banker arrested in #US over @GetOlympus fraud. [link]
@M_NYFP » 21 Dec '12, 9pm
オリンパスの損失隠し問題に深く関与していたシンガポールの元銀行員が、ロスで逮捕。via @reuters Former Singapore banker arrested in U.S. over Olympus fraud [link]
@mmasoudcpa » 21 Dec '12, 8pm
RT @TheAACI: Former Singapore banker arrested in U.S. over Olympus fraud [link] via @reuters
@adchin1969 » 21 Dec '12, 3pm
"@Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]" -- Singapore Boleh !!
@bayonnebernie » 21 Dec '12, 11am
BETTER JAIL 4 BANKERS THAN CAYMAN ISLANDS! Former Singapore banker arrested in U.S. over Olympus fraud [link] via @reuters
@Garfield8899 » 21 Dec '12, 9am
Former Singapore banker arrested in U.S. over Olympus fraud [link] via @reuters
@IgainstI » 21 Dec '12, 8am
@rawdawgbuffalo going after small timers? RT @Reuters Former Singapore banker arrested in U.S. over Olympus fraud [link]
@Can_ada » 21 Dec '12, 8am
“@IIIMEIIIXoP: Former Singapore banker arrested in U.S. over Olympus fraud [link]” #ows
@CAFalk » 21 Dec '12, 8am
RT @IIIMEIIIXoP: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@SingaporeBoard » 21 Dec '12, 8am
Former Singapore banker arrested in US over Olympus fraud - Reuters [link] 1-800-Singapore
@bloggerasia » 21 Dec '12, 8am
#OpenFollow Former Singapore banker arrested in US over Olympus fraud - Reuters [link] #Singapore
@HitchinEngland » 21 Dec '12, 7am
RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link] #News
@SimonCYWong » 21 Dec '12, 7am
Former Singapore banker arrested in US over abetting #Olympus fraud [link] #corpgov
@minipea » 21 Dec '12, 7am
RT @AnonymousZC: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@RocheJacqueline » 21 Dec '12, 7am
Former Singapore banker arrested in U.S. over Olympus fraud [link] via@reuters MichaelWoodfordIsEXACTLyTheKindOfManI.AM.Hiring
@jabariab » 21 Dec '12, 7am
"@Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]" Glad they're still after the execs. #fraud
@Lisa_Twaronite » 21 Dec '12, 7am
Former Singapore banker arrested in U.S. over #Japan #Olympus fraud [link]
@frhn » 21 Dec '12, 7am
We hit the headlines again. RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@Reuters » 21 Dec '12, 7am
Former Singapore banker arrested in U.S. over Olympus fraud [link]
@ahandhymv » 21 Dec '12, 7am
RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@MAblackliberal » 21 Dec '12, 7am
RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@Texasponygal » 21 Dec '12, 7am
RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@SportsNews_Roy » 21 Dec '12, 7am
RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@trappedalien » 21 Dec '12, 7am
RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]
@roushdees » 21 Dec '12, 7am
RT @Reuters: Former Singapore banker arrested in U.S. over Olympus fraud [link]