Olympus and Three Former Execs Charged With Falsifying Financial Reports

By Gary Cutlack on at

The ongoing public explosion of Olympus has taken a new turn, with Japanese authorities now charging the company and three of its former big cheeses with compiling fake financial documents.

Former chairman Tsuyoshi Kikukawa, one of its previous executive vice-presidents Hisashi Mori and the company's ex-auditor Hideo Yamada are the high-profile casualties of the latest developments, with a further three people, not employed by Olympus, also charged.

The investigation, which kicked off after the high-profile sacking and claims of huge financial irregularities from former British boss Michael Woodford, concerns the Japanese company's hiding of company losses, which has apparently been going on since the 1990s. [Olympus [PDF] via BBC]