Executives of Tokyo Shogin, a credit union that mainly serves Korean residents in Japan, shredded a considerable number of documents shortly before the association’s collapse Dec. 16, sources close to the case said Wednesday.

The executives are then believed to have incinerated the shredded papers at the bank’s head office in Shinjuku Ward, Tokyo. They reportedly feared the consequences of an investigation by receivers into the reasons behind the credit union’s collapse, the sources said.

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