Former Olympus CEO Asks UK To Look Into Payments Company Made
October 17 2011 - 1:59PM
Dow Jones News
The former chief executive of Olympus Corp. (7733.TO, OCPNY)
said Monday that he has asked U.K. government investigators to look
into payments the Japanese company made in relation to its 2008
acquisition of U.K. medical technology firm Gyrus Group.
Michael Woodford said he met Monday afternoon London time with
the U.K. Serious Fraud Office to "pass over the documents,"
including what he said was a report prepared by
PricewaterhouseCoopers that looked into fees Olympus paid its
advisor for the Gyrus deal.
Olympus's board removed Woodford from all executive posts
Friday, citing major differences in management style.
But Woodford said in an interview over the weekend that he was
fired after raising questions about payments relating to some
acquisitions made before he joined the Olympus board.
The SFO investigates and prosecutes complex fraud cases. A
spokesman for the SFO declined to comment.
Woodford said that the SFO didn't approach him, but he went to
the SFO to pass over the documents for prosecutors to take into
consideration.
Calls to Olympus offices in London and Europe were
unanswered.
-By Juro Osawa, Dow Jones Newswires: 813 6269 2794;
juro.osawa@dowjones.com
--Cassell Bryan-Low in London contributed to this article.
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