Snap unhappy

Lucy Mair reports on the accounting scandal that has damaged Olympus and triggered fraud investigations

Olympus is renowned for its stylish, high performance cameras. But shareholders in the Japanese corporation, which also has a 70 per cent share of the global market in medical imaging technology, have been anything but impressed by the recent revelations of serious accounting fraud. The accusations have rocked the company, and seriously damaged its reputation over the past month.

After bringing a series of unusual payments and losses of up to $1.3 billion (