[heymijo]

The CEO for starters.

Post-Enron accounting rules via Sarbanes-Oxley made it so that the CEO had to sign off on and certify the financial statements. The buck stopped there. [0]

Why not here as well?

Unless you are thinking about putting the system that incentivizes a CEO and company to do this on trial.

[0] https://www.sec.gov/news/press-release/2014-152

[spaetzleesser]

Top management definitely should lose their high salaries in such a case. The worst that seems to happen to them is to have to resign and get a huge severance package. That's not punishment.