Three people, including the head of a Tokyo-based consulting company, were arrested Tuesday for allegedly swindling a credit union out of some 160 million yen.

Sources close to the special investigative squad of the Tokyo District Public Prosecutor’s Office said Akihito Shigaki, president of consulting firm NSK, and two others submitted in January copies of falsified income documents for a company run by an acquaintance to a credit union to extract about 98 million yen in loans for an affiliate.

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