Chan Ming Fon was arrested in Los Angeles yesterday and faces U.S. fraud charges in New York, Preet Bharara, U.S. Attorney in New York City, said in a statement. Chan, a citizen of Taiwan who lives in Singapore, made an initial appearance in federal court in Los Angeles yesterday.
“Chan Ming Fon was handsomely paid to play an international shell game with hundreds of millions of dollars of assets in order to allow Olympus to keep a massive accounting fraud going for years, duping its auditors and shareholders,” Bharara said in the statement. Full story
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