年金消失事件でAIJ社長ら逮捕 | 英語のニュース

National News

AIJ chief, others held over pension fraud

The head of AIJ Investment Advisors Co. was arrested June 19 in connection with alleged fraud involving the loss of more than yen100 billion in pension assets entrusted to the firm, police said.

AIJ President Kazuhiko Asakawa, 60, is suspected of swindling two corporate pension funds out of 7 billion yen by presenting false investment performance records last year, the police said.

The Tokyo police also arrested three of Asakawa's alleged accomplices: Hideaki Nishimura, 56, president of ITM Securities Co., which is effectively under AIJ's control; Shigeko Takahashi, 53, an AIJ executive; and Yasukazu Kosuge, 50, an ITM Securities executive.

The police raided more than 20 locations linked to the suspects, including AIJ headquarters, while the Securities and Exchange Surveillance Commission also searched several locations in an effort to learn the scope of the fraud. (Kyodo News)

Shukan ST: JUNE 29, 2012

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National News AIJ chief, others held over pension fraud The head of AIJ Investment Advisors Co. was arrested June 19 in connection with alleged fraud involving the loss of more than yen100 billion in pension assets entrusted to the firm, police said. AIJ President Kazuhiko Asakawa, 60, is suspected of swindling two corporate pension funds out of 7 billion yen by presenting false investment performance records last year, the police said. The Tokyo police also arrested three of Asakawa's alleged accomplices: Hideaki Nishimura, 56, president of ITM Securities Co., which is effectively under AIJ's control; Shigeko Takahashi, 53, an AIJ executive; and Yasukazu Kosuge, 50, an ITM Securities executive. The police raided more than 20 locations linked to the suspects, including AIJ headquarters, while the Securities and Exchange Surveillance Commission also searched several locations in an effort to learn the scope of the fraud. (Kyodo News) Shukan ST: JUNE 29, 2012 (C) All rights reserved