Ex-Olympus executives admit accountancy fraud Prosecutors in Tokyo charged Tsuyoshi Kikukawa, former president of the camera and medical devices manufacturer, former executive vice-president Hisashi Mori and former auditor Hideo Yamada for inflating the company's value in the five years leading up to March 2011. An investigative panel commissioned by Olympus identified the three men as seeking to cover up losses linked to risky investments made in the late 1980s. "The full responsibility lies with me and I feel deeply sorry for letting down our business partners, shareholders and the wider public," Mr Kikukawa told the Tokyo district court yesterday. As the president of the company, I take full responsibility for what happened. The scandal was first uncovered by Mr Woodford. When he revealed it, Olympus initially claimed that the British businessman had failed to understand the company's management style, but was later forced to admit the payments which he questioned were part of an accounting fraud Reports in Japan, suggest the former executives could face up to 10 years in jail and fines of up to 10m yen (£79,000). The company could also be fined more than 100m yen.