Ex-president of Olympus, 2 other execs plead guilty to covering up losses

So are we ever going to hear about the yakuza-finance sector connection and the money trail to the Caymans?

10 years in prison, a 10 million yen fine, or both.

This seems to be very small amount compared to the amount of the losses, as well as the length of time they were able to pull it off.

i'll bet $10,000 that they get suspended sentences. this will be a mockery of justice.

"we did nothing wrong"... idiots.... I hope they get the book thrown at them

It'll be interesting to see what kind of 'punishment' these guys get (and the Amakudari jobs thereafter!). My guess is they'll get a jail-time sentence, suspended of course, and the 10 million fine, which will be peanuts compared to their severance packages and the money the stole.

apologized for “all the troubles caused to investors, customers, employees and the general public.”

The standard, pathetic excuse by Japan Inc. "Troubles" my a**. How about admitting that your selfishness and greed caused people to lose billions of yen in their savings because they trusted the numbers you'd been fudging for decades?

He's going down for a while for this - look at what Horie got for something with a much smaller financial market impact.

I think he will get a heavy fine and suspended sentence because he showed remorse

Suspended sentences all round. Steal from a shop and they lock you up for years, steal from shareholders and you've nothing to worry about.

I remember Mr Kikukawa hastily disposing of his assets to avoid having to compensate those he swindled. If he is truly sorry he will stump up the cash, if not he should go to jail.

Mr Woodford should now replace Ultraman!

The Japanese law system seems to be very lax on these kinds of crimes, considering that during the cover-up, they have openly lied to the investors, employees, the government and consumers. And what's the consequence of their crime? Another good year of investments, sales and fat bonuses.

How much money have these three geezers made during that time? I would bet that it's way much more than 10 million yen.

They should not be charged only with falsifying financial reports, but should have an entire book of violations and crimes thrown at them.

how did woodford find this stuff in a couple of months while others had no idea for years?

I thought such faruds take place only in 3rd World. Japan's reputation has certainly taken a beating in the last couple of decades. Their leadership is responsible - business as well as poliitical. We can no longer look upto Japan for ideals.

Anyone recall Enron, Lehman, etc?