False statements for the purpose of deferring record losses?
'Woodford had raised concerns, rightly as it turned out, about $687m (£450m) paid out in “fees”`
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"Woodford, 51, recounted how he had just returned from Hong Kong, having fled Tokyo after a board meeting in which Olympus Chairman Tsuyoshi Kikukawa had fired him. The cause for dismissal, according to Woodford: his insistence that Olympus officials come clean about a series of questionable purchases dating to 2006, totaling $1.6 billion, none of which had been adequately reported in the company’s consolidated financial statements. The deals had been approved by Kikukawa and the Olympus board, yet in several cases the parties receiving the sums were not even clearly identified in Olympus’s books. (At least one Japanese magazine had strongly hinted that the Yakuza were beneficiaries of some of these shady deals.)" ..
"On a sweltering day in Hamburg last July, Woodford .. opened his laptop to find a half dozen e-mails forwarding a translated story from an obscure Japanese business magazine, Facta, that detailed questionable fees paid by Olympus in the Gyrus acquisition as well as the almost $800 million paid for three companies, including the mail-order face cream and the microwave cookery businesses. The story pointed out that two of the businesses had combined sales of less than $2 million; within a year of the purchases, their equity had been almost entirely written off as a loss."
"The Gyrus deal was described as equally suspicious. Not only was the $2 billion price exorbitantly high, but there was also an additional $687 million in Gyrus preferred stock purchased by Olympus from an undisclosed third party. That $687 million would later be described as an advisory fee paid to a shadowy Cayman Islands company, making it the largest advisory fee in history." ref