National News

Ex-Olympus Chairman, 6 others arrested

Prosecutors arrested Feb. 16 former Olympus Corp. Chairman and President Tsuyoshi Kikukawa, two other former executives and a former securities company employee on suspicion of falsifying the company's financial reports in its massive investment loss coverup.

The Tokyo police, in jointly investigating the case with the prosecutors, also arrested three other former employees of a major securities company who are alleged to have advised those in the Olympus management on the coverup.

Kikukawa, 70, the Japanese camera and medical equipment maker's former auditor Hideo Yamada, 67, former Executive Vice President Hisashi Mori, 54, former employee at Axes Japan Securities Co. Akio Nakagawa, 61, and three others allegedly violated a law that bans falsification of securities registration statements. (Kyodo News)

Shukan ST: MARCH 2, 2012

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