By Lee Moran UPDATED: 06:19 EST, 8 November 2011 Vindicated: Michael Woodford was sacked for raising concerns about fraud at Olympus, which has now admitted to hiding £1 billion losses on securities investments The British ex-boss of Olympus - fired after just two weeks for raising concerns about fraud at the firm - has today been vindicated after the Japanese camera company admitted to hiding £1 billion losses on securities investments. Michael Woodford, 51, was sacked on October 14 for questioning the firm's 2007 £1bn takeover of Reading-based medical equipment firm Gyrus and the purchase of three other smaller companies.
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Michael Woodford had only been in job for two weeks
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He was Olympus' first ever foreign CEO
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Issues call for board to resign
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Says he wants to return, if shareholders want him back
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Shares in firm fall by 70%, wiping $6billion off value
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Company faces de-listing from Tokyo Stock Exchange
And today @placeholder admitted to fraud, dating back to the 1980s, after bowing to mounting pressure to explain a series of baffling transactions that have put the future of the firm in doubt.