The former President and Chairman of Olympus who oversaw the financial mismanagement that has seen the company’s value more than halved, has been arrested. Tsuyoshi Kikukawa and his former vice-president Hisashi Mori who has also been arrested, were only forced out of the company after ex-CEO Michael Woodford spoke out, saying he was removed for uncovering their actions. Company auditor Hideo Yamada and four bankers connected to the cover-up of billions of dollars-worth of investment losses were also arrested. (from Reuters)
News: Digital Photography Review (dpreview.com)