Japanese investigators to raid Olympus HQ: reports

21st December 2011, Comments 0 comments

Japanese prosecutors plan to raid Olympus' Tokyo headquarters on Wednesday as part of an investigation into a two-decade cover-up of massive losses at the electronics giant, reports said.

The development comes as investigators probe suspicions that former top executives led the accounting fraud, Jiji Press and Kyodo News reported citing unnamed sources.

Prosecutors were expected to conduct the raid along with police and financial regulators, the reports said.

Investigators hope to build cases by March against former chairman and president Tsuyoshi Kikukawa, 70, former corporate auditor Hideo Yamada, 66, and former executive vice president Hisashi Mori, 54, Kyodo said.

© 2011 AFP

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