Three former top executives of the failed Long-Term Credit Bank of Japan pleaded not guilty Friday before the Tokyo District Court to hiding 313 billion yen in losses in the bank's financial report for fiscal 1997.
Former President Katsunobu Onogi, 63, and former Vice Presidents Yoshiharu Suzuki, 62, and Masami Suda, 59, also stand accused of illegally paying dividends to shareholders even though the bank's financial condition did not warrant such a payout.
The amount of losses hidden is the highest in Japan's history of corporate crime, topping the 275 billion yen in the window-dressing case involving the now-defunct Yamaichi Securities Co.