Olympus, Three Former Executives Indicted
Olympus Corp., the Japanese camera and endoscope maker that admitted a 13-year accounting fraud, and six individuals were indicted by prosecutors for falsifying securities reports, increasing concern the probe may widen.
Former chairman Tsuyoshi Kikukawa, former executive vice president Hisashi Mori and ex-auditing officer Hideo Yamada, were prosecuted, according to a faxed statement from the Tokyo District Public Prosecutor's office today. The three were arrested last month for suspected violation of Japan's Financial Instruments and Exchange Act.
The endoscope maker's market value has tumbled 48 percent since the Oct. 14 dismissal