Toshiba bosses responsible for overstating profits by $1.2 bn: panel

Toshiba bosses responsible for overstating profits by $1.2 bn: panel
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Summary Finding came when Toshiba hired outside team of investigators to look into accounting irregularities

TOKYO (AFP) - Toshiba s top executives were behind a plan that inflated profits by $1.2 billion over the past six fiscal years, according to an independent panel Monday, in a stinging indictment of one of Japan s best-known firms.

The findings came after Toshiba hired an outside team of investigators to look into accounting irregularities uncovered by securities regulators probing the conglomerate s balance sheet earlier this year.