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Ex-Olympus Officials Face Prison If Fraud Claims Are Proved

Former Olympus Corp. officials face as long as 10 years in prison if investigations into the company’s claims that they hid decades of losses lead to convictions for fraud, falsification of financial statements or aggravated breach of trust.

The Tokyo Prosecutor’s Office is investigating Olympus on suspicion the company broke securities laws after the camera maker said Nov. 8 that ex-chairman Tsuyoshi Kikukawa, former executive vice president Hisashi Mori and auditor Hideo Yamada colluded to hide losses by paying inflated fees to advisers.