Ex-kimono firm head admits to defrauding banks before shop closures

May he get the justice he deserves.

He will never be forgiven

Another fraudulent and corrupt Japanese corporation to add to the ever growing and extensive list of unscrupulous and dishonest Japanese corporations.

Let me get this straight.......

Yoichiro Shinozaki, 56, of the now-defunct Harenohi admitted to swindling a combined 65 million yen from two banks in September 2016 by presenting a padded earnings reports to cover up the fact that it was actually in the red.

The company went under with an estimated 1.09 billion yen in debt, of which 345 million yen was from customers.

That's bank fraud and theft......but......

The police initially sought to charge the company with customer fraud but gave up.....

Oh ok.