Apple supplier Japan Display to review past earnings after fraud warning

Apple supplier Japan Display on Wednesday said the company would review its past earnings after a former accounting executive notified the company of a past accounting fraud which he said was directed by former top management.

Reuters:

The executive, who was fired last year for embezzling about $5.3 million over four years since 2014, made the notification on Tuesday, Japan Display said in a statement.

The revelation comes as the cash-strapped company seeks to raise at least 50 billion yen ($460 million) through a bailout deal with Apple and other investors.

The company has already launched an internal investigation with its auditors and will announce results accordingly, the statement said.

MacDailyNews Take: What a clown show Japan Display is!

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