The FBI yesterday announced a new arrest related to the financial scandal at Olympus Corp., which first came to light late last year. Former bank vice president Chan Ming Fon allegedly assisted Olympus in hiding losses on bad investments by investing -- and then secretly liquidating -- hundreds of millions of dollars in the SG Bond Plus Fund, which was managed by Chan. He then helped an Olympus-controlled entity, Easterside Investments, to liquidate the bonds purchased by Olympus. Chan, a 50-year-old Taiwanese national...
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