Japan's Olympus  admitted on Tuesday it hid losses on securities investments dating back  two decades, bowing to weeks of pressure to explain a series of baffling  transactions that have put the future of the firm in doubt.   The revelations by the  92-year-old company appear to vindicate ex-CEO Michael Woodford, who has  staged a campaign since being sacked on October 14 to force the firm to  come clean on nearly $1.5 billion in questionable payments.  Olympus  President Shuichi Takayama blamed Tsuyoshi Kikukawa, who quit as  president and chairman on October 26, Vice-President Hisashi Mori and  internal auditor Hideo Yamada for the cover-up, saying he would consider  criminal complaints against them.  The  admission after weeks of denials shocked investors, sending shares in  the endoscope and camera maker skidding almost 30 percent and prompting  the biggest non-Japanese shareholder to demand the replacement of the  entire board.  "Ignorance is no defense," said Jo...
 
 
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