Police are interviewing people from corporate pension funds in connection with the massive losses they suffered at the hands of AIJ Investment Advisors Co., investigators said Wednesday.
The police are looking to build a fraud case against AIJ, in addition to the alleged violation of a financial product trading law, as they work with the Securities and Exchange Surveillance Commission. The securities regulators have already launched an investigation into the investment advisory firm on suspicion that it lured corporate pension funds into signing asset management deals based on false information.
AIJ is alleged to have worked in concert with ITM Securities Co., which was effectively under its control, in luring corporate pension funds into asset management deals, even though it was making losses on the assets through derivatives trading.