Together, Reducing Fraud Worldwide

  • Media Coverage

    "Woodford, 51, recounted how he had just returned from Hong Kong, having fled Tokyo after a board meeting in which Olympus Chairman Tsuyoshi Kikukawa had fired him. The cause for dismissal, according to Woodford: his insistence that Olympus officials come clean about a series of questionable purchases dating to 2006, totaling $1.6 billion, none of which had been adequately reported in the company’s consolidated financial statements… Woodford, frustrated by the board’s stonewalling, had hired the accounting firm PricewaterhouseCoopers to conduct an independent audit of the suspicious transactions. For several weeks leading up to his dismissal, he had been calling the board to account for these transactions, and eventually demanded the board’s resignation. Instead, Woodford was purged. And now he was running for his life."Bloomberg Businessweek, Feb. 16, 2012

    The above excerpt comes from one of the most in-depth articles regarding Michael Woodford and the crisis at Olympus Corporation – Bloomberg Businessweek’s,The Story Behind the Olympus Scandal,” by Karl Taro Greenfeld, published Feb. 16, 2012.

    There have been many news articles written about Woodford as a whistleblower and the alleged fraud at Olympus. Here is a small sampling of them, by most recent publishing date: 


    Ex-Olympus CEO Woodford Settles Unfair-Firing Lawsuit 

    Bloomberg, May 29, 2012


    New Olympus Board Faces Scrutiny 
    CNN, April 20, 2012   


    Ex-Olympus CEO’s Next Gig: Books and Movies?  
    The Wall Street Journal, March 27, 2012  

    Ousted Woodford Launches Olympus Lawsuit 
    Reuters, March 1, 2012 

    The View from ACFE Japan on the Olympus Fraud Case 
    ACFE Insights, Feb. 29, 2012 

    Top Olympus Lender Denies Board Ambush, But May Fill Chair 
    Reuters, Feb. 22, 2012 

    The Story Behind the Olympus Scandal 
    Bloomberg Businessweek, Feb. 16, 2012

    Olympus Ex-Chairman Kikukawa, Six Others Arrested 
    Bloomberg Businessweek, Feb. 16, 2012

    Ex-Olympus Executives Arrested in $1.7B Scandal 
    CNN, Feb. 16, 2012


    A $1.7 Billion Fraud Born of Earnings Management and a Poor Ethical Culture
    ACFE Insights, Feb. 6, 2012

    Michael Woodford: Whistleblower of the Year 
    The Wall Street Journal, Jan. 14, 2012

    Woodford to Sue Olympus Over Firing, Drops CEO Bid 
    Reuters, Jan. 6, 2012

    To support media articles about Woodford, Olympus and any fraud-related subject matter, interviews can be arranged with key ACFE contacts, including:

    James D. Ratley, CFE
    President and CEO
    Association of Certified Fraud Examiners

    Read James Ratley’s bio

    Bruce Dorris, J.D., CFE, CPA, CVA
    Vice President and Chief Financial Officer
    Association of Certified Fraud Examiners

    Read Bruce Dorris' bio

    Allan Bachman, CFE
    Education Manager
    Association of Certified Fraud Examiners

    For media inquiries and/or to arrange an interview, please contact Scott Patterson, ACFE public relations specialist:, (512) 478-9000, ext. 156.

  • Inside Olympus: the Fraud, the Whistleblower and the Ongoing Investigation 


    Michael Woodford, Olympus Whistleblower 

    Inside Olympus 

    Media Coverage  

    The Cliff Robertson Sentinel Award 

    2012 Mar/Apr Fraud Magazine 


    “I didn’t want to be a hero and put my wife and family through purgatory. But the Facta articles made these allegations, and the Japanese media and the Olympus shareholders didn’t do anything, so I had to.”

    — Michael Woodford,
    Former Olympus CEO and whistleblower