September 25, 1997 |
Tokyo prosecutors arrested the former president of Yamaichi Securities Co., a major Japanese brokerage. The move followed the arrests last month of five brokerage officials accused of funneling profits to Ryuichi Koike, a suspected racketeer. Prosecutors from the Tokyo District Public Prosecutors Office said Atsuo Miki is suspected of having endorsed $658,000 in payments that were transferred in 1995 to an account held by Koike's younger brother.
May 20, 1997 |
Prosecutors raided the Tokyo offices of Dai-Ichi Kangyo Bank on Tuesday to investigate the major bank's possible loans to a corporate racketeer as the Nomura Securities Co. scandal broadened, Japanese media reports said. The raid by more than 100 officers helped drive down Japanese stocks in early trading, led by banks, amid concern that the practices were not to limited Dai-Ichi, traders said.
July 1, 1997 |
Three more Japanese brokerages were accused Monday of making payoffs to a racketeer charged with blackmailing Nomura Securities Co. The lawyer for the reputed racketeer, Ryuichi Koike, 54, said his client's brother, Yoshinori, told him that Daiwa Securities Co., Nikko Securities Co. and Yamaichi Securities Co. had made the illegal payments. Both Koike brothers are under arrest. Spokesmen for the three Tokyo-based securities firms declined to comment.
July 5, 1997 |
The former chairman of a major Japanese bank was arrested in connection with a growing racketeering scandal that has jolted this country's financial industry. Tadashi Okuda had already resigned as chairman of Dai-Ichi Kangyo Bank in mid-June as part of a reshuffle of top management aimed at restoring public confidence in the bank. Eleven executives at Dai-Ichi Kangyo, one of the world's largest banks, have now been arrested.
May 3, 1997 |
In an unusual action for Japanese investors, a class-action lawsuit was filed against four former executives of Japan's largest securities company over alleged payoffs to racketeers. The lawsuit against the ex-officers of Nomura Securities Co., filed on behalf of the company's 120,000 shareholders, seeks the return of $555,000, the amount that Nomura was said to pay the gangsters.
August 15, 1997 |
A Yamaichi Securities Co. executive was stabbed to death, and police were investigating whether the killing may be linked to a payoff scandal involving a racketeer. Koichiro Tarutani, 57, was manager of customer relations at Japan's fourth-largest brokerage, which recently pledged to sever ties with organized crime. The stabbing came three days after the resignation of Yamaichi's chairman, president and nine other executives as they took responsibility for the payoffs.