BUSINESS

Japan prosecutors raid Olympus after revelations of dubious accounting, hidden losses

12/20/2011 10:15 EST | Updated 02/19/2012 05:12 EST
TOKYO - Japanese prosecutors are raiding the headquarters of Olympus Corp. which has been under investigation for dubious accounting and covering up massive losses.

Japanese prosecutors confirmed the raid Wednesday, which was also shown on national television. Dark-suited officials were shown marching solemnly into the downtown Tokyo office building.

Olympus declined comment, saying it could not comment on an ongoing investigation. Japan's NHK TV said the home of a former executive was also raided.