Investors who were fleeced when the Agura Bokujo cattle farm business went under are threatening to sue Democratic Party of Japan President Banri Kaieda for damages over articles and books he wrote 20 years ago recommending investment in the ranch, according to their lawyers.
Out of the thousands of Agura Bokujo victims nationwide, 94 filed for civil conciliation with the Tokyo Summary Court last June, demanding ¥150 million in damages against Kaieda. But since the DPJ chief has refused to accept any of the legal blame, some are preparing to take the case to the Tokyo District Court in February, said Motomitsu Nakagawa, a lawyer and secretary general of a group of attorneys supporting some 6,400 victims nationwide.
"Kaieda was a famous economic analyst who should have known the dangers of this type of beef investment, but he failed to specify the risks. . . . True, it was not a case directly caused by Kaieda, but he bears some responsibility," Nakagawa told The Japan Times.