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How This Man Exposed Japan's Biggest Corporate Fraud

2023-09-14 Science & Technology
1.4m
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ColdFusion
ColdFusion
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Description

Michael Woodford was working at the Olympus corporation when he became suspicious of some shady transactions. Little did he know that his discovery was about to snowball into an almost $5 billion fraud, the largest in Japan's history. In this episode we take out the twisting story of the Olympus fraud. Outro track: https://www.youtube.com/watch?v=jyvSwyEX9Ac ColdFusion/ Burn Water Music: @ColdFusionmusic ColdFusion Podcast: https://www.youtube.com/@ThroughTheWeb ColdFusion Socials: https://twitter.com/ColdFusion_TV https://instagram.com/coldfusiontv https://discord.gg/coldfusion https://facebook.com/ColdFusionTV

Top Comments (10)

@Sci-Que 2023-09-14

Even though they were caught, just take a look at the punishment. They got suspended sentences. It happens everywhere. financially solid white-collar criminals get away with crime and the little guy found guilty of lesser crimes goes to prison.

3.3k 80 replies
@isbestlizard 2023-09-14

The Japanese every time he emailed and mentioned the discrepencies, probably though "Damn it he's blackmailing us with the leverage he has, promote him to keep him quiet!' Until they did that all the way to the CEO, and realised he wasn't blackmailing them but actually wanted to investigate the fraud XD

1.3k 11 replies
@ColdFusion 2023-09-15

Hey guys. Wanted to jump in and address the few typos and that one weird pronunciation. Taking steps to ensure this doesn't happen again. I really should stop working late into the nights! I promise I'll become the "epi-tomey" of quality. Thanks for keeping me in check.

1.1k 75 replies
@ozhoo 2023-09-14

Yet only 2 were ever actually sent to prison. Proving once again that financial manipulation is not a crime.

969 11 replies
@link5175 2023-09-15

Shocking how these white-collar criminals got off with just suspended sentences. It's disheartening to see the stark contrast in punishments for different types of crimes. Kudos to Michael Woodford for his bravery in standing up for what's right. 🙌

795 6 replies
@TheArtunism 2023-09-14

“Hey this is weird, can I get an explanation” “How about a promotion instead?”

619 4 replies
@danielhale1 2023-09-15

He was REALLY smart to flee Japan. If he'd stayed, the company would have set him up as the fall guy (the foreigner often takes the blame in Japan) and their justice system could have very easily just locked him away with no effort at justice. Japan is a very beautiful and interesting place, but you never want to be staring down its "justice" system, especially as an outsider, especially when a big company is pulling strings to make a problem go away. He _might_ have been fine with all the international attention, but that's a bad gamble.

564 10 replies
@baronvonhoughton 2023-09-14

Billions in fraud - Suspended sentences. Possession of drugs - Up to ten years inside.

161 7 replies
@CYB3R2K 2023-09-14

"Where's the money?" "Shut up, you're the boss now"

77
@jennw1585 2023-09-15

There’s something hilarious about them continually promoting Woodford to shut him up until he was at the highest position then firing him.

63 1 replies

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