Friday, November 17, 2017
 
 
News: Page (1) of 1 - 03/07/12 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
6 execs charges in Olympus loss coverup scandal
Japanese prosecutors formally charge 6 Olympus executives in coverup of massive losses
By The Associated Press

TOKYO (AP) ' Japanese prosecutors have formally charged the former chairman of Olympus Corp. and five others in a high-profile scandal involving a coverup of massive investment losses.

Tokyo prosecutors said in a statement they formally pressed charges Wednesday against Tsuyoshi Kikukawa and five other former top officials at the Tokyo-based medical equipment maker.

The six men were arrested in mid-February.



Olympus has said it hid 117.7 billion yen ($1.5 billion) in investment losses dating to the 1990s.

The scandal surfaced late last year when then-President Michael Woodford raised questions about payments for financial advice and acquisitions of companies that were not related to Olympus' mainstay operations.


Page: 1


 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines