An internal investigation at Olympus says five current and former auditors are responsible for a combined 8.38bn yen (€85.7m) in losses linked to the Japanese company's accounting scandal.

JAPAN’S disgraced Olympus Corp is suing its president and 18 other executives for up to $47 million (€37m) in compensation, as it struggles to recover from an embarrassing accounting scandals.

Japanese camera and medical equipment maker Olympus is suing 19 former and current executives for damages the company said it has suffered over a massive cover-up of investment losses.

Japanese prosecutors raided the headquarters of Olympus today, amid an investigation into dubious accounting and a cover-up of massive losses at the camera giant.

MICHAEL Woodford, who was fired as chief executive of Japanese camera and medical equipment company Olympus after blowing the whistle on dubious spending, is now resigning from the board.

LEWIS HAMILTON was stopped by police for behaving like a boy racer yesterday only hours after he had wowed a Melbourne crowd with the fastest lap in Australian Grand Prix practice.