6 ex­ec­u­tives charged in Olym­pus cover-up scan­dal

The Washington Times Daily - - Business -

TOKYO | Ja­panese prose­cu­tors for­mally charged Olym­pus Corp.’s for­mer chair­man and five other peo­ple Wed­nes­day in a high-pro­file scan­dal in­volv­ing a cover-up of mas­sive in­vest­ment losses at the com­pany.

Tokyo prose­cu­tors said in a state­ment that they for­mally pressed charges against Tsuyoshi Kikukawa and two other for­mer ex­ec­u­tives at the Tokyo-based med­i­cale­quip­ment maker, along with three other men from con­sult­ing com­pa­nies who col­lab­o­rated in the scan­dal.

The six men were ar­rested in mid-fe­bru­ary on sus­pi­cion that they had fal­si­fied the com­pany’s fi­nan­cial state­ments from 2006.

Prose­cu­tors started a fresh in­ves­ti­ga­tion of the four for­mer Olym­pus em­ploy­ees Wed­nes­day over al­leged ad­di­tional fal­si­fi­ca­tion from 2008 to 2010.

Olym­pus has said it hid $1.5 bil­lion in in­vest­ment losses dat­ing to the 1990s.

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