TOKYO – Three former executives of UFJ Holdings Inc.’s banking unit were arrested Wednesday over allegations that the bank lied to government authorities about bad debts.
Kazuyoshi Okazaki, Sen Hayakawa and Masayuki Inaba were arrested on suspicion of banking law violations, the Tokyo District Prosecutors Office said.
Authorities said the executives lied, hid documents about corporate borrowers and transferred thousands of electronic files between August and October 2003 to try to obstruct an inspection by financial regulators into the bank’s debts.
For this complete story, please visit Former UFJ Bank Executives Arrested Over Bad Debts.
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