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Jan 14, 2012

Exclusive: Banker in Olympus scandal steps into public view

DELRAY BEACH, Florida (Reuters) – A Japanese banker who is a key figure in the Olympus accounting fraud came into public view for the first time since the scandal broke, appearing on Friday at his divorce hearing in a Florida court.

Hajime “Jim” Sagawa ran a U.S. investment firm that earned a massive $687 million fee for advising Olympus in a 2008 acquisition deal that ranks as the largest advisory payment in history.

Jan 13, 2012

Banker in Olympus scandal steps into public view

DELRAY BEACH, Florida (Reuters) – A Japanese banker who is a key figure in the Olympus accounting fraud came into public view for the first time since the scandal broke, appearing on Friday at his divorce hearing in a Florida court.

Hajime “Jim” Sagawa ran a U.S. investment firm that earned a massive $687 million fee for advising Olympus in a 2008 acquisition deal that ranks as the largest advisory payment in history.

Jan 12, 2012

Haiti to mark two years after catastrophic quake

PORT-AU-PRINCE (Reuters) – Haiti will commemorate the two-year anniversary on Thursday of a devastating earthquake that ravaged the Western Hemisphere’s poorest country as it struggles to rebuild and hundreds of thousands of quake victims remain homeless.

Haitians are expected to hold solemn ceremonies at massive grave sites to remember the dead from Haiti’s worst-ever natural disaster.

Jan 10, 2012

Slow road to recovery in quake-ravaged Haiti

PORT-AU-PRINCE (Reuters) – If there is hope in Haiti, it can be found in Mertilus Aland.

The 18-year-old eight-grader is flourishing in a new school built after Haiti’s devastating earthquake, dreaming of one day becoming a doctor in the violent Haitian slum he calls home.

Nov 29, 2011

Trinidad “plot” arrests reach 13, but details scarce

PORT OF SPAIN (Reuters) – The number of suspects detained in an alleged plot to assassinate Trinidad and Tobago’s prime minister rose to 13, a top security official said on Monday while offering few new details about the conspiracy.

National Security Minister John Sandy faced intense questioning at a news conference from reporters pressing for more specifics since Prime Minister Kamla Persad-Bissessar announced on Thursday that officials had uncovered a plot.

Nov 19, 2011

Ex-UBS banker turned songbird pressures Swiss banks

MIAMI (Reuters) – A light sentence handed down on Friday for a former top UBS private banker who became a U.S. government informant on wealthy American tax cheats ramps up pressure on the Swiss banking industry.

Renzo Gadola, who worked at Swiss bank UBS AG (UBS.N: Quote, Profile, Research, Stock Buzz) from 1995 to 2008, received five months’ probation from a Florida federal judge and a fine of $100. He had cooperated extensively with U.S. authorities conducting a wide-ranging criminal investigation of scores of Swiss banks.

Nov 18, 2011

Ex-UBS banker sentenced for aiding U.S. tax evasion

MIAMI (Reuters) – A former senior UBS banker who helped the U.S. government expand its crackdown on offshore tax evasion was sentenced to five years probation on Friday for advising wealthy Americans on ways to hide their money from U.S. tax authorities.

Renzo Gadola, who worked at Swiss bank UBS AG from 1995 to 2008, pleaded guilty in December to charges of conspiracy to defraud the United States.

Nov 15, 2011

Olympus accounting tricks queried back in 1990s

TOKYO/MIAMI (Reuters) – An investment banker raised concerns about dubious accounting at Japan’s disgraced Olympus Corp as long ago as the 1990s, after he discovered it was using Bermuda-based funds to “invent” assets and patch up its balance sheet, he told Reuters.

The banker’s concerns, which he says were discussed inside Wall Street bank PaineWebber, his employer at the time and the arranger of Bermuda schemes for Olympus, is one of the earliest red flags known to have been raised over the Japanese company’s accounting irregularities, which continued for two more decades.

Nov 15, 2011

Exclusive: Olympus accounting tricks queried back in 1990s

TOKYO/MIAMI (Reuters) – An investment banker raised concerns about dubious accounting at Japan’s disgraced Olympus Corp as long ago as the 1990s, after he discovered it was using Bermuda-based funds to “invent” assets and patch up its balance sheet, he told Reuters.

The banker’s concerns, which he says were discussed inside Wall Street bank PaineWebber, his employer at the time and the arranger of Bermuda schemes for Olympus, is one of the earliest red flags known to have been raised over the Japanese company’s accounting irregularities, which continued for two more decades.

Oct 22, 2011

Exclusive: Olympus trail reaches elusive banker’s Florida home

BOCA RATON, Florida (Reuters) – A former Wall Street banker of Japanese descent has emerged as a key figure in the scandal engulfing Japanese blue-chip company Olympus Corp (7733.T: Quote, Profile, Research, Stock Buzz), according to documents provided by the company’s ex-CEO.

The veteran banker, Hajime ‘Jim’ Sagawa, owned an obscure U.S. financial firm that was hired by the camera and endoscope maker five years ago to provide what later turned out to be stunningly expensive advice, a fee of $687 million, the documents show.