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Gyrus Group Ltd and Olympus Corporation

The Serious Fraud Office commenced criminal proceedings against two companies, by written charge, in September 2013. Gyrus Group Ltd, a UK subsidiary of Olympus Corporation, and Olympus Corporation were charged with offences of making a statement to an auditor which was misleading.

The case was accepted by the SFO for investigation on 9 November 2011 after referral by the former CEO of Olympus, Michael Woodford.

Following a Court of Appeal judgment made in February 2015, which ruled that English law does not criminalise the misleading of auditors by the company under audit, a decision was made to offer no evidence in the case. More information can be found in the related press releases.

Page published on 3 Mar 2015 | Page modified on 28 Apr 2016