Three former Olympus officials, including disgraced ex-chairman Tsuyoshi Kikukawa, all received suspended prison sentences today for their role in an accounting fraud that threw the company into turmoil. Bloomberg reports that Kikukawa and auditing officer Hideo Yamada got three-year sentences suspended for five years, and executive vice president Hisashi Mori got two and a half years suspended for three.
The relatively light sentences take into account that much of the fraud was set into motion before the executives were involved. “Kikukawa and Yamada succeeded in a negative legacy and weren’t involved in the decision-making process to hide losses,” said a Tokyo district judge. “They were distressed and didn’t benefit...
via The Verge - All Posts http://www.theverge.com/2013/7/3/4489336/olympus-chairman-sentenced-for-role-in-accounting-fraud
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