Ex-Olympus Execs Get Suspended Sentences In Fraud Case

Law360, New York (July 3, 2013, 2:03 PM EDT) -- The ex-chairman of Olympus Corp. and two other former executives reportedly received suspended prison sentences in Tokyo court Wednesday for their roles in a massive accounting fraud that covered up $1.7 billion in losses at the camera and medical device maker.

Ex-Chairman Tsuyoshi Kikukawa, former auditor Hideo Yamada and former Executive Vice President Hisashi Mori received suspended sentences ranging between two and a half to three years for falsifying financial statements, according to the BBC.

Olympus itself was ordered to pay 700 million yen ($7 million)...
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