Arab Today, arab today olympus former execs plead guilty in fraud trial
Last Updated : GMT 04:33:33
Arab Today, arab today
Arab Today, arab today

Olympus, former execs plead guilty in fraud trial

Arab Today, arab today

Arab Today, arab today Olympus, former execs plead guilty in fraud trial

Tokyo - AFP

Scandal-wracked Olympus and three of its former top executives pleaded guilty in court Tuesday over charges that they covered up losses worth $1.7 billion stemming from bad investments. Former president Tsuyoshi Kikukawa apologised in Tokyo District Court and said he would take "full responsibility" for the crime that came to light when his British successor blew the whistle. "All responsibility rests with me as the president. I shall take full responsibility," Kikukawa told the court at its first hearing. "I sincerely apologise for all the troubles that I caused," he said. The case was originally thrust into the spotlight last year by Michael Woodford, who replaced Kikukawa at the head of the company and became the first foreigner to lead the camera and endoscope maker. He initially internally questioned $1.7 billion in losses at the firm, but said he was abruptly demoted shortly before exposing a scheme that saw huge losses moved off the firm's balance sheet. Kikukawa's guilty plea was joined by two fellow former Olympus officers, ex-vice president Hisashi Mori and former auditor Hideo Yamada, and the company itself. Prosecutors have alleged that Olympus started using a complex accounting mechanism to hide losses that came from bad investments made in the 1990s, with the firm's top officers including former presidents, approving the moves. According to the indictment, Kikukawa, Mori and Yamada conspired with outside advisers to hide the losses via purchases of foreign companies and overpriced consulting fees.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today olympus former execs plead guilty in fraud trial Arab Today, arab today olympus former execs plead guilty in fraud trial

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday