Tokyo police Friday arrested a former employee of Nichiei Co., the leading nonbank lender of commercial loans, on suspicion of extortion and violating the Moneylending Business Law.
In connection with the arrest, law enforcement officers from the Metropolitan Police Department the same day searched 14 locations, including Nichiei's head office and the private home of Nichiei President Kazuo Matsuda, both located in Kyoto.
Arrested on Friday was Yukihiro Wada, 45, of Yotsukaido, Chiba Prefecture, currently an employee of Nichiei-affiliated Nihon Shinyouhoshou Corp.