Finalternatives – Japanese camera maker Olympus Corp. may have used investments with a well-known Bermuda hedge fund to hide more than US$1 billion in investment losses.
A former Paine Webber banker told Reuters that his former firm helped craft so-called “tobashi” schemes to allow Olympus to hide huge losses from the collapse of Japan’s economy in the 1990s. Among those techniques were a series of investments with Olympia Capital International, brokered by Paine Webber.
