Summary Box: Former Olympus execs see new charges

Summary Box: Former Olympus execs face new charges over cover-up of losses

Associated Press

NEW CHARGES: Japanese prosecutors have pressed fresh charges against the former chairman of Olympus Corp. and two other executives over the cover-up of massive investment losses between 2009 and 2011.

CONTEXT: Olympus has said it hid 117.7 billion yen ($1.5 billion) in investment losses dating to the 1990s. The scandal surfaced last year.

OTHER CHARGES: The three Olympus executives were already charged for their role in the deception in 2007 and 2008. Olympus as a corporation and two consultants at companies linked to Olympus were also charged Wednesday.

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