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Mizuho shareholders file complaint over yakuza loans

Kyodo

Two shareholders of Mizuho Financial Group Inc. have filed a criminal complaint with investigative authorities against Mizuho Bank, claiming it intentionally made a false report to the Financial Services Agency in connection with loans to yakuza, their lawyers said.

The two male shareholders in Yokohama and Osaka mailed the complaint to the Tokyo District Public Prosecutor’s Office on Thursday, claiming the mega-bank under the Mizuho Financial Group violated the banking law by deliberately making a false report to the FSA and dodging its inspections.

They said it is clear that a Mizuho Bank official purposely provided false explanations to FSA inspectors and did not submit to the agency necessary materials such as minutes of the bank’s board meetings.

The bank and its parent, Mizuho Financial Group, have admitted to more than ¥200 million in loans through the group’s consumer finance affiliate to “antisocial forces,” apparently yakuza.