Japanese prosecutors have arrested seven men, including former Olympus Corp. Chairman Tsuyoshi Kikukawa, for their alleged involvement in a massive $1.7 billion accounting fraud at the Japanese camera and medical equipment maker.
(CNN) Tokyo - Other former executives arrested Thursday include ex-Executive Vice President Hisashi Mori and former Auditor Hideo Yamada, according to the Tokyo District Public Prosecutors Office. Four others arrested were financial advisers who allegedly assisted Olympus executives in the coverup.
"We are deeply concerned about the seriousness of this situation," the Olympus Corp said in a statement. "In order to find the full facts, we will continue to fully cooperate with law enforcement authorities in the investigation."