A former president and two former managing directors of Nomura Securities Co. pleaded guilty Tuesday to conspiring to pay 370 million yen to a “sokaiya” corporate extortionist in one of the biggest financial scandals to rock the nation this decade.

Former Nomura President Hideo Sakamaki, 62, and former Directors Nobutaka Fujikura, 55, and Shinpei Matsuki, 53, are charged with violating the Commercial Code and the Securities and Exchange Law by giving payoffs to sokaiya Ryuichi Koike, 54, who also faces trial. Nobuyuki Koga, a Nomura director representing the brokerage for its Securities and Exchange Law violations, also pleaded guilty in the arraignment before the Tokyo District Court.

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