Olympus banker sells home for $10, heads to Cayman

| 06/12/2011

(CNS Business): Hajime Sagawa, the Japanese banker whose firm received $687 million in fees as part of Olympus Corp’s $2.1 billion buyout of Gyrus Group Plc, is believed to be here in Cayman staying at his Seven Mile Beach condo after selling his home in Florida to his wife for only $10, according to a report on Bloomberg. Axam Investments, a Cayman Islands-based fund of which Sagawa was a director, got all but $17m of the $687m in fees paid in the scandal being investigated by Japanese authorities and the FBI. Gary Nevis, Sagawa’s brother-in-law, toldBloomberg that he had left Florida for a month after divorcing his wife and selling her their Boca Raton home. Read more on CNS business.

Category: Business

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