Japan watchdog files official complaint against Olympus

City A.M. Reporter
Japan's securities watchdog became the latest authority to file a criminal complaint against Olympus Corp, some former executives and outside advisers over the company's $1.7bn (£1.1bn) accounting fraud.

The Securities Exchange and Surveillance Commission (SESC) said it had requested criminal charges be filed by public prosecutors against individuals involved in dubious mergers and acquisitions used to hide losses in one of Japan's biggest corporate scandals.

The complaint against Olympus is for filing false financial statements for the financial years ending March 2007 and March 2008. Last December, the company filed five years worth of corrected earnings statements to account for the scandal.