Police searched the head office of a Tokyo-based financial company and several dozen other locations on Monday on suspicion that the company unlawfully served as a stock brokerage intermediary. Law-enforcement officials from both the Metropolitan Police Department and Shizuoka Prefectural Police were mobilized in the raids. Police suspect that Kuraimu Corp., a financial firm based in Tokyo’s Chuo Ward, has operated a brokerage business without a proper license in violation of the Securities Transactions Law. According to investigators, Kuraimu allegedly served as a middleman in dealing in a total of 140,000 shares for a large number of specified customers between September 1995 and October 1997.
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