AIJ In Olympus (OCPNY) Style Scandal, SESC Raids HQ

Tokyo Asset Management Agency AIJ Investment Advisors Co has been raided by the Securities and Exchange Surveillance Commission (SESC) today after news that the company has been hiding losses for a decade. The SESC said it was looking for materials that may help shed light on the company's dealings and provide evidence in the case against the company. The news of the company's fraudulent dealings were made public today by the regulator who had the company deregistered as an investment adviser earlier. The magnitude of the losses sustained seems to have been over $1 billion, though exact...