Japanese prosecutors are considering indicting Olympus Corp as a company for falsifying its financial reports to conceal huge investment losses in a $1.7 billion scandal, Kyodo news agency reported on Sunday, quoting investigative sources.
Tokyo District Public Prosecutors and the watchdog Securities and Exchange Surveillance Commission (SESC) have apparently determined they can make a case against the camera and medical equipment following the Tokyo Stock Exchange's decision last month to keep the company listed, Kyodo said.
Olympus is likely to be indicted as a corporation when prosecutors charge chairman and president Tsuyoshi Kikukawa, 70, and six other people arrested last week, Kyodo said.
The company would face up to 700 million yen ($8.82 million) in penalties if found guilty, Kyodo said. (Reuters)
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