crime

Bank loans scandal deepens as Shinsei admits yakuza loans

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The country’s finance minister on Friday lauded Shinsei after it admitted a day earlier that one of its subsidiaries made dozens of loans to the yakuza.

Good job Shinsei, deserving of lauding indeed (?)

Authorities have long battled to keep gangsters from infiltrating Japan’s corporate sector amid fears about mob involvement in stock trading and the real estate sector, among other legitimate activities.

Yeah. What would the world come to if gangsters were involving themselves in legitimate activities like stock trading and real estate? We'd have to start calling them banksters or something instead. Oh wait...

5 ( +6 / -1 )

What a despicable turn of events! Who would have ever imagined that the core of Japanese Financial success was involved in depraved dealings with vile characters. Makes me doubt the honesty of the whole system! Have to go...need a tattoo

5 ( +5 / -0 )

I think in many cases the gangsters played the system by getting individual members to take out relatively low-value loans (personal credit lines, car loans, etc.) as ordinary "consumers" without revealing the yakuza ties that came out in later, more in-depth credit investigations. Compared to the U.S., for example (which has kind of gone to the opposite extreme), the credit tracking and reporting system in Japan is still relatively disorganized; gangsters took advantage of that, but the banks are also made vulnerable by their own willingness to provide funds without adequate background checks.

Ironic, considering how tough they can be about loans to legitimate applicants.

4 ( +4 / -0 )

Looks like we're seeing more of the iceberg.

Kudos to Shinsei for coming clean.

3 ( +3 / -0 )

I wonder why Govt does not reveal the names of Yakuza Group that obtained loans, Who are regular cutomers of Yakuza's illegal gambling arenas? business men or bureaucrats?

3 ( +3 / -0 )

The bank said the loans are now being liquidated after it was discovered that many of them belonged to yakuza.

Please tell us how this works out for you, LOL. Liquidating Yakuza loans won't go smoothly I imagine.

2 ( +2 / -0 )

But, the question still remains, did these banks willingly lend the funds to the Yaks or were they threatened into to doing it? I guess we will never know cos if the latter is true they will not speak up about it.

2 ( +3 / -1 )

No one should be "shocked" by this revelation. Yakuza are into all facets of Japanese society, you just have to look harder. One of the biggest yakuza graft is in political campaign funding. It goes thru so much layering that it is hard to detect. No big shocker with Shinsei Bank; others will follow.

2 ( +3 / -1 )

@kimuzukashi1- It is not easy. Yakuzas who are business oriented become do not tattoos so that they can operate illegal gambling arenas that has respectable business men and local politicians gambling.. Tattooed yakuzas are not included in such places. Top is ou-oyabun (Godfather Kaicho ), Then oyabuns (Don Riji) Anid Anikibun (capo regimes hosa) Many chimpiras have tattooes but never included in gambling arenas. When you go to stockholders meeting, take your reading glass out and have your 30 cm ruler. When someone yells agree or oppose, you have to gaze their eyes and hold your ruler becuase they are smart sokaiya yakuza. You can scare them easily with your ruler as if you are an expert of shinai wiiden katana. These brainy wearing nice clothes yakuzas look like corporation executives. They could be chairman of horse racing arenas where their smart bookies operate illegal booking activity. Chimpiras who work at sub contractor yakuzas are easy to spot. They usually have tattoos.

2 ( +2 / -0 )

I see the truly pure at heart and the struggling poor will never have a chance for a better life with punks and thugs all the way up the money chain in your country too it seems, a stain on humanity

2 ( +2 / -0 )

The gangsters constitute a cancer that is eating society up.

1 ( +3 / -2 )

Good work Toma San...time to clean up the waterfront.

1 ( +1 / -0 )

We only hear words like, "deepening scandal", "admitting ...", and a lot of other nice sounding words which is all good and heart-warming, however I'd really like to know who was behind exposing these silly banks. That person has true guts and integrity in my book. It probably wouldn't have been easy but it's good to know that some one in this country is doing some really excellent work. I wish we could find more like him/her.

1 ( +2 / -1 )

So who's next?

0 ( +0 / -0 )

Shinsei's only coming clean because Mizuho is so badly under fire (and by 'badly' I mean they are not being penalized in the least), and now we have Aso saying an admittance by Shinsei is sensible and even patting them on the back. Glad they have 'suggested' people look into their loans, but would be nice to see a little enforcement of the law, and some punishment for obvious disobeying of it. But nah... this is Japan!

0 ( +2 / -2 )

This is a tip of iceberg. FSA needs to be tenacious to clean up YAKUZA illegal loans.

0 ( +1 / -1 )

Yaks are just a bunch of pull-through blow hards. The keystones should just take them out - if they have the kohonas.

0 ( +1 / -1 )

It is time for the Japanese people to show their Kahonies and take this bunch (yAKUZA) out to the back 40 and strip them of their Badonies and throw them into the Pacific.

0 ( +1 / -1 )

Authorities have long battled to keep gangsters from infiltrating Japan’s corporate sector amid fears about mob involvement in stock trading and the real estate sector, among other legitimate activities.

I guess the authorities don't want any competition from the gangs. The government bureaucracy and the gangs operate in remarkably similar ways, offering contracts and protection from competitors in exchange for kickbacks. At least the gangs are honest about thelr dishonesty.

-1 ( +1 / -2 )

How do they know someone in Yakuza? Other than stripping them naked, there seems to be no real way to tell.

-2 ( +0 / -2 )

How do they know someone in Yakuza? Other than stripping them naked, there seems to be no real way to tell.

Most of em are pretty easy to spot.

-2 ( +0 / -2 )

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