Bloomberg News

U.S. SEC Probing Olympus Payments to U.S. Broker, NYT Says

October 28, 2011

Oct. 28 (Bloomberg) -- U.S. authorities including the Securities and Exchange Commission are intensifying a probe of payments by Olympus Corp. to a U.S. broker as part a broader investigation into $687 million in payouts by the company, the New York Times reported.

The Federal Bureau of Investigation opened its case two weeks and the inquiry has since spread to multiple federal law enforcement agencies, the newspaper said, citing people briefed on the inquiries.

They include federal prosecutors in Manhattan as well as the SEC, which has begun an inquiry into the defunct brokerage firm Axes America, the Times said. The SEC declined to comment, the newspaper said.

The inquiry may focus on whether the fees paid by Olympus were kickbacks to company officials involved in the arrangements, the Times said. Until now, the inquiry was mainly aimed at determining if money laundering or other illicit transactions were involved in the payments, the newspaper said.

Link to Statement:{NSN LTRNBZ3H0JK4 <GO>}

To contact the editor responsible for this story: James Kraus at jkraus2@bloomberg.net


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus