Economy | ANALYSIS
Households to take hit from tax hike
by Tomoko Otake
The consumption tax increase will hit every household in Japan hard, with many people’s financial future hanging on whether their wages rise enough to offset the hike's impact.
Crime & Legal Sep 28, 2013
MRI viewed as Ponzi scheme by FBI in 2009
The FBI probed MRI International Inc. in 2009 on suspicion that it was running a Ponzi scheme, according to a source who cooperated with the investigation. The revelation comes after the U.S. Securities and Exchange Commission won permission to freeze the assets of MRI ...
Crime & Legal Jul 16, 2013
Japanese investors sue asset manager in U.S. court
Japanese investors filed a class-action lawsuit seeking damages from Las Vegas-based asset manager MRI International Inc. on July 5, according to U.S. court documents. Attorneys for five Japanese investors filed the lawsuit in the U.S. District Court of Nevada on behalf of all who ...
Crime & Legal Jun 17, 2013
Securities watchdog seeks SEC's help in probing alleged fraud at MRI
Japan's financial watchdog asks the SEC for help prosecuting a U.S.-based asset manager suspected of swindling investors out of billions of yen.
Crime & Legal May 31, 2013
MRI faces criminal complaint over losses
Japanese clients of MRI International Inc., a U.S. investment company suspected of mismanaging assets, filed a complaint Thursday with Tokyo prosecutors and police alleging fraud. The complaint against Edwin Fujinaga, president of Las Vegas-based MRI, was filed with the Tokyo District Public Prosecutor’s Office ...
Corporate May 17, 2013
MRI bows to FSA with vow to plan repayment
U.S.-based asset manager MRI International Inc., suspected of mishandling the funds of thousands of Japanese clients, responded to an order by the Financial Services Agency by promising investors a repayment plan. Japan’s financial watchdog delisted the asset manager in late April, while investigators from ...
Crime & Legal Apr 26, 2013
U.S. asset manager tied to ¥130 billion loss
The Securities and Exchange Surveillance Commission probes a U.S. investment firm after learning it may have lost more than ¥130 billion of its clients' money.