The U.K. Serious Fraud Office (SFO) has dropped a two-year case against Japan-based endoscope maker Olympus Corp in light of a London court ruling that misleading auditors is not seen as a criminal offence under English law.
In September 2013, the SFO charged Olympus and its U.K. subsidiary, medical systems company Gyrus Group for making false statements to an auditor. In this case, the SFO could not have prosecuted the individuals involved in the misconduct since Japan does not extradite its nationals, the regulator said.
