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January 14, 2012

EXCLUSIVE - Banker in Olympus scandal steps into public view

Filed under: Bridging Finance — Phill Taylor @ 12:11 am

A man walks past signboards of Olympus Corp outside its showroom in TokyoDELRAY BEACH, Florida (Reuters) - A Japanese banker who is a key figure in the Olympus accounting fraud came into public view for the first time since the scandal broke, appearing on Friday at his divorce hearing in a Florida court. Hajime “Jim” Sagawa ran a U.S. investment firm that earned a massive $687 million fee for advising Olympus in a 2008 acquisition deal that ranks as the largest advisory payment in history. Olympus has admitted the deal along with others was part of a 13-year scheme to cover up $1. …

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