Summary Box: Probe finds cover-up at Olympus

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THE FINDINGS: A panel probing an accounting scandal at Olympus Corp. says an elaborate scheme to cover up $1.5 billion of investment losses was orchestrated by a group of top executives who were “rotten to the core.”

GOOD WORK: The panel, led by a former Supreme Court judge, credited the Japanese company’s ex-CEO, Michael Woodford, for bringing the deception at the camera and medical equipment maker to light.

COMPANY RESPONSE: Olympus says it takes the panel’s report “very seriously,” but also notes that no new off-book liabilities or gangster involvement had been found.