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eppur_se_muova

(36,274 posts)
Wed Jul 3, 2013, 02:59 AM Jul 2013

Olympus scandal: Former executives sentenced (BBC)

Three former executives of Olympus have been given suspended jail terms for their roles in an accounting scandal.

Former chairman Tsuyoshi Kikukawa and executives Hisashi Mori and Hideo Yamada pleaded guilty last year to charges of falsifying accounts to cover up losses of $1.7bn (£1.1bn).

Mr Kikukawa and Mr Yamada were given three-year sentences and Mr Mori a two-and-a-half-year sentence.

Olympus was ordered to pay 700m yen ($7m; £4.6m) in fines for its role.

The scandal is one of the biggest financial frauds in Japan's history.
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more: http://www.bbc.co.uk/news/business-23156879

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