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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.

Defendants

Gyrus Group Limited
Four offences contrary to Section 501 of the Companies Act 2006
Olympus Corporation
One offence contrary to Section 501 of the Companies Act 2006

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