Suspended jail for ex-Olympus executives in Japan cover-up

PUBLISHED : Wednesday, 03 July, 2013, 2:14pm
UPDATED : Wednesday, 03 July, 2013, 2:14pm


A Japanese court on Wednesday handed suspended sentences to three former Olympus executives accused of engineering a massive accounting fraud at the camera and medical equipment maker.

Prosecutors had asked that a five-year jail term be given to sacked company president Tsuyoshi Kikukawa and lesser sentences for ex-vice president Hisashi Mori and auditor Hideo Yamada.

The sentences from the Tokyo District Court, ranging from three-years for Kikukawa and Yamada to two-and-a-half years for Mori, carry no immediate jail time.

The fraud was uncovered after Michael Woodford was fired as chief executive after challenging Kikukawa and the board over payments for acquisitions.