Is the fall of Olympus Corp a Yakuza shakedown?

Started Oct 21, 2011 | Discussions thread
Jeff
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The money went somewhere ....
In reply to MusicDoctorDJ, Oct 22, 2011

MusicDoctorDJ wrote:

007peter wrote:

Yakuza shakedown is a possibility, but the huge amount of money $687 millions suggest this is something else. My best educated guess is that Chirman himself is trying to embezzle Olympus, Inc's money into this own, then declared Bankruptcy*. I've seen this happen too many times. A greedy CEO, transfer a public company's asset into his own private agency under the guise of consulting fee so it appear as a legitimate transaction, then declared bankruptcy leaving many Asian investor suffer the consequences*

That is so crazy that it doesn't even make any sense!

A lot of money changed hands in excessive fees, and in acquiring overvalued companies. Around $1.3 billion and counting. So far there's been no accounting for where the money went. A few possibilities ---

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legit businesses that happened to hit a big payday
-- anti-social elements -- (i.e., 'a deal you can't refuse')
-- portfolio companies of the big shareholders/bondholders

-- entities/partners affiliated with the chairman and director (i.e., embezzlement)
-- others?

I'm not sure you could rule out any of these possibilities at this point.

Even in the worlds most undeveloped country, nobody (other than a military dictator) would be able to get away with something that stupid!

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J. D.
Colorado

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Jeff

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