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OSAKA — Prosecutors demanded a 10-year prison term Thursday for a former branch manager of Daiwa Securities Co. who is accused of defrauding clients out of some 4.2 billion yen by luring them into fabricated investment schemes.

The prosecutors told the Osaka District Court that the accused, Hirotsugu Shibuya, 57, committed a “vicious crime that made maximum use of his position and special knowledge as a senior official of a securities company, and the damage was enormous.”

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