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Kinmirai Tsuushin in hot water

Internet protocol telephone operator Kinmirai Tsuushin Inc. shut down its headquarters in Tokyo's Chuo Ward on Nov. 20, as well as most of its local branches and affiliate offices, although the company claims this is only temporary and that it is still in business. Suspicions are growing that the company was not making enough money and that it was redistributing the money from new investors as dividends. A number of investors, some of whom had invested more than ¥50 million, have sued the company. (Kyodo)

Shukan ST: Dec. 1, 2006

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National News Kinmirai Tsuushin in hot water Internet protocol telephone operator Kinmirai Tsuushin Inc. shut down its headquarters in Tokyo's Chuo Ward on Nov. 20, as well as most of its local branches and affiliate offices, although the company claims this is only temporary and that it is still in business. Suspicions are growing that the company was not making enough money and that it was redistributing the money from new investors as dividends. A number of investors, some of whom had invested more than ¥50 million, have sued the company. (Kyodo) Shukan ST: Dec. 1, 2006 (C) All rights reserved