At a news conference on Wednesday, camera maker Olympus announced the resignation of one director, saying others may follow. This due in part to a $1.7 billion accounting fraud uncovered by former CEO Michael Woodford. The company said the entire board of directors could resign once the firm submits its second-quarter earnings, due out by December 14th. This would cause a battle of control over the Japanese company with Woodford leading the pack. Yesterday, an external investigative panel report revealed that several former executives spent 13 years running a complex scheme to hide huge investment losses off the company's balance sheet. Police are still investigating the matter with rumors swirling that the company could be involved in organized crime. If this turns out to be true, Olympus would likely be delisted from the stock market.