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The Industrial Bank of Japan and several other major banks have repeatedly wined and dined executives and other high-ranking officials of the Bank of Japan, in addition to the BOJ official arrested March 11, sources said March 12.

Yasuyuki Yoshizawa, head of the Capital Markets Division of the BOJ’s Credit and Market Management Department, was arrested on suspicion of accepting 4.3 million yen in bribes from two banks, mainly in the form of wining, dining and golf outings. Yoshizawa’s superiors were entertained along with him when he held his previous position at the BOJ, the sources said. He is suspected of having been wined and dined on 89 occasions to the tune of 4.3 million yen, the sources said.

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