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Loan Fraud Japan

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BUSINESS
July 29, 1991 | From Times Staff and Wire Reports
Bank Discloses Financial Fraud: Tokai Bank Ltd., Japan's seventh-largest bank, said former deputy branch manager Susumu Morimoto, 38, carried out "improper" actions involving deposit certificates from March, 1990, to June, 1991, enabling customers to obtain loans from several nonbank financial institutions. Tokai withheld names of institutions and customers involved.
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BUSINESS
June 6, 1997 | (Bloomberg News)
Dai-Ichi Kangyo Bank Ltd. shares fell as much as 3.8% as Tokyo prosecutors searched its head office and Japan's minister of posts said the world's largest savings institution will suspend business with the bank. Prosecutors searched the bank for evidence that it loaned money to an alleged corporate racketeer without collateral. On Thursday, Japanese authorities arrested three executives and a former managing director of the bank on suspicion of making the loans.
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BUSINESS
June 6, 1997 | (Bloomberg News)
Dai-Ichi Kangyo Bank Ltd. shares fell as much as 3.8% as Tokyo prosecutors searched its head office and Japan's minister of posts said the world's largest savings institution will suspend business with the bank. Prosecutors searched the bank for evidence that it loaned money to an alleged corporate racketeer without collateral. On Thursday, Japanese authorities arrested three executives and a former managing director of the bank on suspicion of making the loans.
BUSINESS
July 29, 1991 | From Times Staff and Wire Reports
Bank Discloses Financial Fraud: Tokai Bank Ltd., Japan's seventh-largest bank, said former deputy branch manager Susumu Morimoto, 38, carried out "improper" actions involving deposit certificates from March, 1990, to June, 1991, enabling customers to obtain loans from several nonbank financial institutions. Tokai withheld names of institutions and customers involved.
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