6 executives charged in Olympus cover-up scandal
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.