# Olympus Scandal

**URL:** <https://boards.straightdope.com/t/olympus-scandal/602261>\
**Category:** Miscellaneous and Personal Stuff I Must Share\
**Created:** [November 8, 2011, 8:57am UTC](https://boards.straightdope.com/t/olympus-scandal/602261 "2011-11-08T08:57:08Z")\
**Posts on this page:** 6\
**Page:** 1

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**Author:** ![Paul\_in\_Qatar](https://avatars.discourse-cdn.com/v4/letter/p/ccd318/32.png) [@Paul\_in\_Qatar](https://boards.straightdope.com/u/Paul_in_Qatar)\
**Post date:** [November 8, 2011, 8:57am UTC](https://boards.straightdope.com/t/olympus-scandal/602261/1 "2011-11-08T08:57:08Z")

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I have been ignoring the news during Hajj. My regular hours are disrupted and I am spending more time at the pool.

Have you heard about the scandal that might destroy the makes of Olympus Cameras and suchwhat? [It seems](http://blog.foreignpolicy.com/posts/2011/11/03/can_anyone_agree_on_what_americas_greatest_threat_is) members of the board have been hiding loses on the market with other company funds. A British CEO was unwilling to go along with their long-running games and spilled the beans.

The company has lost **70% of its value.** Imagine that! Perhaps the high-flying executives thought they could cover their fraud forever.

Think of this the next time you want to sink serious money into Chinese companies. America firms are run by crooks, but I cannot imagine them trying to pull a stunt like this.

Wow.

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**Author:** ![beowulff](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/beowulff/32/542_2.png) [@beowulff](https://boards.straightdope.com/u/beowulff)\
**Post date:** [November 8, 2011, 2:15pm UTC](https://boards.straightdope.com/t/olympus-scandal/602261/2 "2011-11-08T14:15:47Z")

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Your link is broken.  
[This](http://www.dawn.com/2011/11/08/camera-maker-olympus-admits-to-hiding-investment-losses.html) one works (probably not the same article).

Also, Olympus is Japanese, not Chinese.

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**Author:** ![Eve](https://avatars.discourse-cdn.com/v4/letter/e/9e8a1a/32.png) [@Eve](https://boards.straightdope.com/u/Eve)\
**Post date:** [November 8, 2011, 3:52pm UTC](https://boards.straightdope.com/t/olympus-scandal/602261/3 "2011-11-08T15:52:46Z")

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I thought maybe Hera found out Zeus was cheating on her with Leda again.

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**Author:** ![VunderBob](https://avatars.discourse-cdn.com/v4/letter/v/839c29/32.png) [@VunderBob](https://boards.straightdope.com/u/VunderBob)\
**Post date:** [November 8, 2011, 3:56pm UTC](https://boards.straightdope.com/t/olympus-scandal/602261/4 "2011-11-08T15:56:50Z")

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> [@Paul\_in\_Qatar](#):
>
> America firms are run by crooks, but I cannot imagine them trying to pull a stunt like this.
> 
> Wow.

Isn’t this the same sort of accounting crap that destroyed Enron?

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**Author:** ![One\_And\_Only\_Wanderers](https://avatars.discourse-cdn.com/v4/letter/o/838e76/32.png) [@One\_And\_Only\_Wanderers](https://boards.straightdope.com/u/One_And_Only_Wanderers)\
**Post date:** [November 8, 2011, 4:01pm UTC](https://boards.straightdope.com/t/olympus-scandal/602261/5 "2011-11-08T16:01:38Z")

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How does paying huge agent fees help them hide the investment losses?

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**Author:** ![TruCelt](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/trucelt/32/523_2.png) [@TruCelt](https://boards.straightdope.com/u/TruCelt)\
**Post date:** [November 8, 2011, 4:44pm UTC](https://boards.straightdope.com/t/olympus-scandal/602261/6 "2011-11-08T16:44:34Z")

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> [@VunderBob](#):
>
> Isn’t this the same sort of accounting crap that destroyed Enron?

Exactly, and I put the kibosh on a similar deal (much smaller scale though) just last year.