Japanese camera and medical equipment maker Olympus and three of its former executives yesterday pleaded guilty to charges related to a $1.7bn (€1.35bn) accounting cover-up.

Former Olympus president Tsuyoshi Kikukawa admitted guilt today over a cover-up scandal of massive investment losses at the top Japanese camera and medical equipment company.

An internal investigation at Olympus says five current and former auditors are responsible for a combined 8.38bn yen (€85.7m) in losses linked to the Japanese company's accounting scandal.

Japanese camera and medical equipment maker Olympus is suing 19 former and current executives for damages the company said it has suffered over a massive cover-up of investment losses.

Japanese camera firm Olympus has said its chairman Tsuyoshi Kikukawa is stepping down amid widening scrutiny into past acquisitions.