• SHARE

Prosecutors Friday demanded an eight-month prison term for a former vice president of Dai-Ichi Kangyo Bank on charges of violating the Commercial Code by extending illegal loans to “sokaiya” corporate extortionist Ryuichi Koike.

The sentence was requested before the Tokyo District Court for Tsuneo Uchida, 61, who was indicted for illegally lending money to Koike, 55. “(Uchida) is heavily responsible (for the misdeed) by playing a leading role in extending the loans,” a prosecutor said before the Tokyo District Court. “This organizational crime, committed to seek immediate profit, should not be excused.”

According to the indictment, Uchida allegedly conspired with other former DKB executives to pay off Koike to buy his silence at DKB shareholder meetings.

The indictment alleges that Uchida was involved in payoffs of some 8.8 billion yen out of a total 11.7 billion yen in illicit loans to Koike between 1994 and 1996 through a nonbank finance affiliate.

Uchida pleaded innocent to the charges, claiming that the 11.7 billion yen in loans were for a company run by a brother of Koike.

But prosecutors said it was clear Uchida was aware the loans would be used by Koike.

The trial will conclude after Uchida’s lawyers present their final argument on Feb. 19.

Uchida is among the 11 DKB officials charged with providing payoffs to Koike. Six were found guilty in October.

The former officials were charged with violating the Commercial Code, which prohibits corporations from giving special benefits to shareholders, including sokaiya.

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