I recommend reading Olympus CEO Michael Woodford's book ”Exposure". Here's my brief summary: Woodford works his way up through the company ranks. He's hear of

I recommend reading Olympus CEO Michael Woodford's book ”Exposure". Here's my brief summary: Woodford works his way up through the company ranks. He's hear of Olympus Europe when he gets made CEO of the whole company. He goes over to Japan. Soon after becoming CEO an investigative journalist for a small magazine, Facta, discovers some strange acquisitions Olympus made. Woodford questions the board. They tell him not to worry. Woodford starts digging and covering his back. He gets fired. The Japanese board state "cultural differences" and no journalist questions this. News of the fraud finally starts to break. 1.5 billion USD of losses were hidden over fraud which took place over decades. A few key board members get suspended sentences. Some members of the board remain on the board even after the dust settles. His book goes into more detail about how companies, banks and journalists are all complicit in a system that allows fraud to go unchecked. Even after the details were published they were still selling this one under the rug. (A bit of a tangent but it's hard not to sympathise with Kelly and Ghosn of Nissan. The key players at Olympus never saw the inside of a jail cell but Ghosn got half a year of solitary before any conviction.)