Prosecutors raided the head offices of the Asahi, Dai-Ichi Kangyo, Sanwa and now-defunct Hokkaido Takushoku banks Tuesday in connection with a scandal that has emerged following the arrests of two Finance Ministry inspectors Monday over bribery.The raid comes only a day after the Tokyo District Public Prosecutor’s Office charged into the Finance Ministry to investigate the bribery scandal. Prosecutors Monday arrested Koichi Miyakawa, 53, who is head of the financial inspectors’ office at the financial inspection department, on suspicion he was wined and dined to the tune of 2.6 million yen by Asahi Bank and Dai-Ichi Kangyo, and for buying an unfairly discounted condominium from an Asahi Bank unit.An assistant chief at the same office, Toshimi Taniuchi, 49, was arrested on suspicion of being extensively treated by Sanwa Bank and Hokkaido Takushoku Bank. The alleged bribes the bureaucrats allegedly accepted from the four banks totaled 9.3 million yen, prosecution sources said.Dai-Ichi Kangyo, Asahi Bank and Sanwa Bank apologized for the embarassing raids individually.Miyakawa was reprimanded last July 29 with his superior at the time for being treated by Dai-Ichi Kangyo while the bank was under inspection in 1994 — an action the media covered extensively.

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.