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Japanese prosecutors raid Olympus offices

The raid comes after months of scandal and lost market value

Japanese prosecutors were a little late in their raiding of Olympus Corp.’s Tokyo offices on Tuesday, seeing as it’s been more than a month since the company owned up to more than a decade’s worth of accounting fraud that hid investment losses totaling $1.7 billion.

The prosecutors may have been waiting for the camera maker to finish filing its earnings restatements (which it did last week to avoid being delisted by the Tokyo Stock Exchange), one expert told Bloomberg. Or perhaps the raid by the Tokyo District Public Prosecutors Office and police was a delayed “stamp of authority” on the whole matter, posits another expert.

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