NDAQ:APDN - Post Discussion
Post by
turner20001 on Oct 06, 2023 5:09pm
CEO Hayward's partner Sidney Braginsky
Unfortunately this doesn't conclude the Braginsky saga, as from 1994 to 2000 he served as the President of
Olympus America Inc. Olympus lawsuit (Case No. 11-cv-7103) alleged "
financial fraud and decades-long cover-up" and Olympus admitted an "
accounting fraud going back to the 1990's". The
Olympus Scandal, as it came to be known, was a national disgrace in Japan in a similar scope as Enron or Worldcom in the US, described as "one of the biggest and longest-running loss-hiding arrangements in Japanese corporate history." According to Wikipedia, "Despite Olympus' denials, the matter quickly snowballed into a
corporate corruption scandal over concealment of more than 117.7 billion yen ($1.5 billion) of
investment losses and other dubious fees and other payments
dating back to the late 1980s and suspicion of
covert payments to
criminal organizations."
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