A Tokyo-based investment group suspected of swindling its investors has sent 3 billion yen to the Philippines and Indonesia since 1998 to finance businesses there, according to sources close to the group and documents recently obtained by Kyodo News.
The Metropolitan Police Department is likely to arrest Genta Ogami, 39, head of the G.O. group, and six to eight senior members of the organization as early as next week on suspicion of fraud, investigative sources said.
The G.O. group is suspected of collecting about 40 billion yen from more than 30,000 investors across Japan and swindling them out of most of the money, the sources said.