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At the first hearing in the criminal prosecution trial of three former Olympus executives (former Chairman Tsuyoshi Kikukawa, former Executive Vice President Hisashi Mori and ex-auditing officer Hideo Yamada) and Olympus Corporation itself, all three defendants and the company pleaded guilty to all counts in the indictment
In times of financial downturn and diminishing returns, complicated corporate frauds that were previously hidden by the previous successful expansion of a business often emerge
