crime

Police to probe Mizuho over loans to gangsters

14 Comments

Tokyo police are preparing to launch a probe into Mizuho Financial Group's loans to gangsters, a report said Sunday.

The Tokyo Metropolitan Police are considering fraud allegations against the gangsters, who are thought to have received the loans by hiding their affiliations with criminal organizations, the Asahi Shimbun said.

Mizuho has been cooperating with police, the newspaper added.

The bank, one of Japan's three biggest, has been under fire since it emerged that it had processed hundreds of transactions worth about 200 million yen ($2.0 million) for "anti-social forces", a common term for yakuza.

The bank initially said its top executives did not know about the payments.

But Mizuho Financial Group president Yasuhiro Sato later admitted he and others had been appraised of the bank's dubious dealings with members of Japan's underworld.

The Financial Services Agency last month admonished the bank for taking "no substantial steps" in dealing with the issue of loans to the mob after it was first discovered two years ago, and pointed to "serious problems" with its compliance monitoring.

© (C) 2013 AFP

©2021 GPlusMedia Inc.

14 Comments
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Don't bother fellas.

We all know that no one will be arrested let alone convicted.

0 ( +1 / -1 )

Hurrah! Set some examples, please.

1 ( +1 / -0 )

I have to say I'm not surprised at this action by the police at all. Kind of saw it coming.

0 ( +0 / -0 )

So, the cops know who and where the Yaks are, they know most of their rackets and leave them alone, but the are trying to persecute people who have dealings with them. One would think it more pertinent to cut off the head snake instead of cleaning up its shit.

2 ( +3 / -1 )

Just on this, the former VP has already quit. He knew everything that was going on and retired with big bonuses. Now when questioned he digs his feet in and says he doesn't have anything to do with MiZuho and doesn't know. Slime.

1 ( +1 / -0 )

Wake me up when something actually happens.

1 ( +3 / -2 )

WHICH banks don't have deposits by dark hands though?

If they probe, probe it thoroughly, not just this bank, not just the account that's been revealed. Gangsters use different names and identities. Expose them as well. The banking system will be in chaos for a while, but it's worth a try. Other banks should stop shivering and voluntarily reveal the extent to which they have gangster money.

2 ( +2 / -0 )

Send them all to jail... oh wait this is Japan, nothing will happen.

0 ( +1 / -1 )

Not only in Japan, my former employer white-washed money for the Mexican druglords. Yes they were fined, but did anyone go ever to jail? No!

1 ( +1 / -0 )

There is a very big table, not only in Japan, be it capitalist. communist, private or public enterprise with a lot if dirt under it, so big that people get lost and dirty when they go diging in it. Without being syndical, that's life on this rock when the common man chisels and toils away at it he creates the soil where others see pay dirt. Just like art and creativity all societies have their vices. Ah the human race we love to watch like you the hamster.

1 ( +1 / -0 )

But who is probing the police???

0 ( +0 / -0 )

Send them all to jail... oh wait this is Japan, nothing will happen.

Nothing happened when HSBC processed money for Mexican drug gangs.

Who was jailed?

0 ( +0 / -0 )

I believe , that the police will be the one PROBE , if they investigate to DEEP!

0 ( +0 / -0 )

Investigation "where is our cut " is on the way!

0 ( +0 / -0 )

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