Olympus, Faulty Endoscopes, $1.7 bn Accounting Fraud & My Brother Chan Ming Fon’s Guilty Plea

Without the Guilty Plea, my brother Chan Ming Fon may be charged with wire fraud, money laundering and other crimes and sentenced to a maximum of 20 years in prison. He is, in fact, a small fish in the sea of sharks.

Armed with the insider information, will the investigators, prosecutors, and judiciaries PLEASE proceed to target the big sharks?

A little advice to my little fish brother, and sharks, big and small:

  • When you go in search of honey, you must expect to be stung by bees. — Joseph Joubert (French moralist and essayist, 7 May 1754– 4 May 1824)

FBI Assistant Director-in-Charge George Venizelos, U.S. Attorney Preet Bharara, U.S. District Judge Laura Taylor Swain, and the other unknown contributors to the successful prosecution of U.S. v. Chan, U.S. District Court, Southern District of New York, No. 13-cr-00052 deserve high commendation for their time, dedication, and efforts in fully, fairly and justly investigating, prosecuting, and adjudicating this high-profile fraud case. People all over the world urge that “justice and power be brought together, so that whatever is just may be powerful, and whatever is powerful may be just.” — Blaise Pascal (French Mathematician, Philosopher and Physicist, 1623-1662)

Olympus and Endoscopes

  • According to Olympus’ website, the company was founded in 1919 as a microscope and thermometer maker. It produced its first camera in 1936 and a predecessor to the modern-day endoscope in 1950. Olympus has controlled over 75 percent of the endoscope market worldwide and 85% of the Japanese market, reaping $800 million annually since 1997.

Endoscopes include:

    • Bronchoscopes – they examine the air passages and the lungs
    • Colonoscopes – they examine the colon.
    • Gastroscopes – they examine the small intestine, stomach and esophagus (throat).
    • Arthroscopes – they examine the joints.
    • Hysteroscopes – they examine a woman’s uterus.
    • Cystoscopes – they examine the urinary bladder.

These are the instruments that doctors use to peer inside the body to help diagnose various diseases. However, Bronchoscopes and Colonoscopes in particular have been found to be defectively designed, uncleanable, and unreasonably dangerous.

Patients have had bacterial infections and deaths after undergoing Bronchoscopy and Colonoscopy Procedures. As a result of the 2001 epidemic outbreaks of Bronchoscope-related bacterial infections and deaths, 15 Olympus Defective Bronchoscope Models totaling 15,000 units were recalled globally on November 30, 2001 and February 27, 2002.

In 2009, the Department of Veterans Affairs revealed that more than 14,000 veterans in Florida, Georgia and Tennessee had been exposed to possibly contaminated endoscopes between 2002 and 2009. — That was after the two recalls of the 15-model 14,000 Olympus Bronchoscopes in 2001 and 2002. The veterans were mainly infected by the defectively designed Olympus Colonoscopes, which had not been recalled because no doctors or healthcare professionals of the VA hospitals were as brave as those of Skyline, Johns Hopkins, and the Tennessee Department of Health in exposing the design defect of the Colonoscopes, which were extremely difficult, if not impossible, to clean after each procedure. See Olympus: $1.7 billion loss! How much was spent on Olympus lawyers like Jameson Carroll or even the Judges? Posted on March 31, 2013; Impossible To Sterilize Colonoscopes | Listen To Your Gut; ANOTHER DECADE-OLD OLYMPUS FRAUD? Olympus’s Inadequate Recall of 15 Defective Bronchoscope Models v. Patient Infections & Deaths Nationwide/Worldwide! Posted on December 27, 2012 by ricofraudonthecourt; OLYMPUS ENDOSCOPES PROBLEMS FOUND! (I) Posted on March 1, 2013 & OLYMPUS ENDOSCOPES PROBLEMS FOUND! (II) Posted on March 5, 2013.

Apparently, a large amount of Olympus’ annual $800 million profits obtained by fraud on the FDA and the public must have been spent in covering up the infections and deaths caused by the 2001-2002 15-model 14,000 recalled Bronchoscopes and the innumerable Colonoscopes that inflicted harms on 14,000+ veterans in Florida, Georgia, and Tennessee from 2002 through 2009, costing tax payers $79 million on 341 tort claims in 2010. However, these constituted only a small percentage of the problems caused by Olympus Endoscopes.

* A 1986 General Accounting Office (GAO) study showed that less than one percent (1%) of device problems occurring in hospitals are reported to FDA, and the more serious the problem with a device, the less likely it was to be reported.

http://graphics.thomsonreuters.com/11/11/7733/7733_FLW.swf

Take a look at this flowchart or graph on Olympus’ bogus and shelter companies in which their losses have been hidden for years!

Besides Jameson Carroll and Laura Storms-Tyler’s suborned perjury and fraudulent concealment of the design defect that the fiber-optic flexible Endoscopes harbored bacteria surviving after going through the proper Cleaning, Disinfection, & Sterilization processes, Olympus was suspected of bribing its way out of Absolute Product Liability and Failure to Warn Lawsuits with its notorious off-the-books $1.7 bn of investors’ funds.

Risking 5 years’ imprisonment, Olympus National Counsel Jameson Carroll conspired with its VP Laura Storms-Tyler by suborned perjury to defeat the 2001-2 300+ court cases related to the contaminated bronchoscopes which fatally infected and killed patients at little cost to Olympus.

The FBI, and the USDA’s successful investigation and prosecution of my brother Chan Ming Fon’s role in the $1.7 bn accounting cover-up for the past decade.

$1.7 billion money trail seems to have led the investigators to something new!

Besides Akio Nakagawa’s record $687 million advisory fee and my brother Chan Ming Fon’s $10 million for his role in the $1.7 billion accounting cover-up and of helping “liquidate” hundreds of millions of dollars in the decade-long fraud, where and to whom did the rest of the moneys go? The investigations of the FBI, U.S. District Court/Southern District of New York, UK’s Serious Fraud Office, Tokyo’s District Public Prosecutor’s Office, and the Third-Party Committee seem to have finally shed some light on the $1.7 billion accounting fraud. Hopefully, my brother’s cooperation with the government may help reveal the tunnel of the money trail. Let’s wait and see which way the cat jumps!

I firmly believe that Olympus could not survive any jury trials, that its National Counsel Jameson B. Carroll and his legal teams used all kinds of dirty tricks, including, but not limited to, suborned perjury, bribery, fraud on the court, at all costs, and that a big chunk of the $1.7 billion was spent in covering up the 300+ court cases involving the 15-model 14,000 Olympus Defective Bronchoscopes, the 341 tort claims against Olympus Defective Colonoscopes and the 14,000 veterans’ exposures to bacterial infections in three VA medical centers. Costing $79 million of tax payers’ money, Olympus trickily scapegoated the VA hospitals for their inability to properly clean the defectively designed Endoscopes, which are impossible to clean, disinfect or sterilize as a result of the same design defects. Only replacing the entire product lines with a new design can the defects be cured! See Impossible To Sterilize Colonoscopes | Listen To Your Gut“Design Defect” means all the mass-produced Olympus Bronchoscopes carry with them the same defective biopsy port caps; OLYMPUS ENDOSCOPES PROBLEMS FOUND! (I)(II); and ANOTHER DECADE-OLD OLYMPUS FRAUD? Olympus’s Inadequate Recall of 15 Defective Bronchoscope Models v. Patient Infections & Deaths Nationwide/Worldwide! Posted on December 27, 2012 by ricofraudonthecourt; OLYMPUS DEFECTIVELY DESIGNED ENDOSCOPES: BRONCHOSCOPES & COLONOSCOPES Posted on February 23, 2013; REVISITING OLYMPUS DEFECTIVELY DESIGNED ENDOSCOPES: BRONCHOSCOPES & COLONOSCOPES Posted on February 24, 2013, and the other related posts.

TO BE CONTINUED.

Paul Chen

E-mail Addresses:

ricofraudonthecourt@yahoo.com

pc886405@yahoo.com

* If anyone has any first-hand knowledge about OLYMPUS-CARROLL’s Bribery and Corruption, please read the following posts and take advantage of the International Whistleblower Reward to benefit himself or herself and to have justice served!

* If you or your friends have any stories to share, please contact me by e-mail. Your identity will be kept confidential.

* Guest posts are urgently requested.

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See International Illegal Bribery Schemes and International Whistleblower Reward Information Posted on January 30, 2013; OLYMPUS BRIBERY: GLOBAL HEALTHCARE PROFESSIONALS’ REWARD FOR 10%-30% OF THE BRIBES! Posted on January 31, 2013; Olympus Victims/Olympus Frauds/Olympus Flawed Medical Devices Posted on January 29, 2013; FBI PROBE INTO OLYMPUS’S LAWYERS/LAW FIRMS AND CAMPAIGN FINANCES OF ALL STATE COURT JUDGES Posted on January 11, 2013; Olympus’s $1.7 Billion Accounting Fraud Covered Up Its Global Bronchoscope Disasters?!!! Posted on January 4, 2013 by ricofraudonthecourt, and the other Olympus-related posts here.

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Corrupt judges like John D. Rainey, Janis Graham Jack, S. Thomas Anderson, Skipper Koetter, Kemper Stephen Williams; unethical lawyers like Richard T. Chapman, David Roberts, Randal W. Hill, Jameson B. Carroll, Emily T. Landry, Ron McAfee, Edward Bearman; ignorant/discriminatory ADA Shannon Salyer, Sheriff B.B. Browning & Magistrate Hope Kurtz, crooks and fraudsters like Terry J. Cox, Anita L. Koop, and those named and unnamed in my posts: They have seized upon the government by bribery and corruption. They have made speculation and public robbery a science. They have loaded the nation, the state, the county, and the city with debt. — Quotes from Denis Kearney (1847–1907), a late 19th century California labor leader, applied to some Texas’s and Tennessee’s rotten, immoral, despicable OFFICERS OF THE COURT and two major crooks and fraudsters.

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Judges were accepting money right in the courtroom.

While teaching, I also worked undercover in the lower courts by saying I was a young law teacher wanting experience in criminal law. The judges were happy to assist me but what I learned was how corrupt the lower courts were. Judges were accepting money right in the courtroom. —  Samuel Dash

Samuel Dash (February 27, 1925 – May 29, 2004) was an American professor of law who acted as a co-chief counsel along with Fred Thompson for the Senate Watergate Committee during the Watergate scandal. Dash became famous for his televised interrogations during the hearings held by the United States Congress on the Watergate incident. — From Wikipedia, the free encyclopedia

Ha! Judge Skipper Koetter seems a lot wiser in that he concealed the moneys under the cover of campaign contributions and that he managed not to accept money in the courtroom, I guess.  But a reasonable man cannot rule out his accepting money in his chambers, bedchambers, or living room, can he? One of my former attorneys mentioned that the most effective way for money to change hands had been knowingly and willfully losing the chips to the judge in the poker game in a private group. See Judge Skipper Koetter’s Campaign Finance Suspected of Bribery Posted on September 29, 2012.

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