16 Feb '12, 9am

Former Olympus president, Tsuyoshi Kikukawa, suspected of falsifying records arrested

Former Olympus president, Tsuyoshi Kikukawa, suspected of falsifying records arrested

In this Oct 14, 2011 photo, then Olympus Chairman Tsuyoshi Kikukawa speaks at a press conference in Tokyo. He has been arrested in Tokyo, prosecutors said on Thursday, 16 Feb, 2012, the latest twist in one of the biggest ever financial scandals to rock corporate Japan.-- PHOTO: AP TOKYO (AFP) - The former president of under-fire Olympus has been arrested in Tokyo, prosecutors said on Thursday, the latest twist in one of the biggest ever financial scandals to rock corporate Japan. Tsuyoshi Kikukawa - who has been named as a key player in a scheme to shift US$1.7 billion (S$2.14 billion) of losses from the camera-maker's balance sheet - was arrested on suspicion of violating laws banning falsification of financial statements. The Tokyo District Public Prosecutors Office said in a statement it had also arrested former vice-president Hisashi Mori, 54, former auditor Hideo Yama...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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