8 Worst Corporate Scandals in Japan

3. Olympus Corporation

$1.7 billion

Olympus scandal is one of the worst corporate scandals in Japan. Michael Woodford, the president of the company in 2011, exposed loss-hiding arrangements. He became famous for blowing the whistle on the fraud in Olympus Corporation, his own company. He hired Price Water House Coopers to run an independent inspection of the accounts and was under the protection of the Metropolitan police. Olympus Corporation was fined $5.6 billion and announced that the company lost nearly $10 million because of the accounting scandal.