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(Image from article: "BofA bolsters compliance after $10.7 billion error")

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7 Arrested in Olympus Accounting Cover-Up

Tsuyoshi Kikukawa, a former chairman and president of the company, was among those charged with falsifying financial statements.

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BofA bolsters compliance after $10.7 billion error

Bank of America Corp is beefing up its internal accounting controls after it incorrectly classified as much as $10.7 billion in short-term lending and repurchase deals for mortgage securities as sales, according to a letter filed on Friday with U.S. securities regulators.

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