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It’s hard to believe that in this day and age, some types of business entertainment still exist.
Akihisa Nakabayashi, president of real estate company Koshi Trust, was arrested on May 21 on charges of fraud. Major banks had financed over 20 billion yen through Koshi to approximately 70 small to medium sized businesses, 20 of which were found to be dummy companies. Involvement of crime syndicates is also suspected.
According to a national newspaper reporter, Koshi had lavished a substantial amount of money to buy over loan officers at major banks in various ways, such as fishing on Nakabayashi’s private cruiser, lending luxury automobiles and footing bills for stays at four-star hotels.
In order to secure the cooperation of other real estate company managers, Koshi had also used soaplands – in addition to extravagant wining and dining – if that happened to be the client’s preference.
A source in Koshi Trust confided that Nakamura would take real estate company owners to the most expensive soaplands in Yoshiwara where they would literally bump into acquaintances in the industry, also being ‘entertained’ by Nakamura.
It has been confirmed that outrageous bills were frequently sent to Koshi from the soaplands. As one manager of a Yoshiwara soapland says, “Since the ‘bubble’ period, it’s become very rare to issue bills as company entertainment.”
Koshi’s client entertainment was clearly over the edge, which should have made it obvious to anyone that there was something wrong with the business itself.
© Japan Today
16 Comments
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some14some
May be Koshi Trust offered this service for the sake of healthy Ashi Koshi....
neganip
who is nakamura ? who is nakabayashi ?
Altria
A Japanese real estate company engaged in shady dealings? Surely not!
stirfry
so has every other japanese company in history
kurisutofu
What is a soapland?
Dennis Bauer
kurisutofu that is japanese culture ;)
Mayura
From the description in the article above, I assumed Koshi should be 'large' enough to be made a requirement to be audited. So, shouldn't the extravagant entertainment expenses be detected as leading to some fishy business? Or did the auditors do their job in soaplands as well?
nath
It is a place where mothers take their sons to teach them how to bathe properly. duh
Mittsu
Just a fact of like in corporate Japan. Would expect if they frequented soaplands that they would at least have "clean hands"
polarmalik
Mr Nakabayashi and Mr Nakamura should be given 20 lashes each, daily for the next 20 years as punishment and shown on national and international TV including Youtube.
ca1ic0cat
And well entertained they were, I'd imagine.
This has been going on for years, why is anybody surprised?
Beelzebub
Shukan Post is really losing its pizzazz. A couple of years ago they had a much more outrageous story about how the Ministry of Foreign Affairs here was treating visiting foreign diplomats to romps at soaplands, which were being funded by public tax money.
bushlover
I support supporting the local economy.
tokyochris
Another name for a brothel
justhq
i'm all for this type of entertainment. they should hold a lottery for all foreign residents of japan to appreciate this side of the culture.
NuckinFutz
I'm sure all the clients enjoyed a "happy ending"!