• SHARE

Prosecutors arrested on July 4 a former chairman of the Dai-Ichi Kangyo Bank in connection with the major city bank’s alleged payments to a corporate extortionist.

According to prosecutors, Tadashi Okuda, 65, is suspected of allowing 11.78 billion yen in loans to be extended through a nonbank affiliate to racketeer Ryuichi Koike between 1994 to 1996 in violation of the Commercial Code. His arrest makes him the eleventh DKB official held so far in the unfolding “sokaiya” scandal that has also embroiled Nomura Securities Co., the nation’s largest securities firm.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW