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Business

Securities watchdog inches toward criminal case

TOKYO -- A record fine may not be the last punishment doled out for Toshiba's massive accounting fraud, as authorities appear to be weighing the feasibility of winning criminal convictions against the company's previous presidents.

     On Dec. 7 the Securities and Exchange Surveillance Commission recommended Toshiba be fined 7.3 billion yen ($59.9 million) for its malicious accounting manipulation that went on for seven years and inflated its profits by a total of more than 200 billion yen.

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