Japan police move on Olympus as investors demand clean-out

Japanese police have launched an investigation into the financial scandal engulfing Olympus Corp, a newspaper said on Thursday, as a major investor joined increasing calls for a wholesale clean-out of the board.

Tokyo Metropolitan Police are investigating the firm’s concealment of investment losses for possible violation of financial laws, the Yomiuri newspaper said, adding that police had asked Olympus for internal accounting documents and would also question Olympus executives and related officials.

Police would work with markets watchdog the Securities and Exchange Surveillance Commission, which is already investigating, and with Tokyo prosecutors, and swap information with the U.S. markets regulator and the FBI, the paper said.

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