• Kyodo

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The failed Ishikawa Bank extended a 5.7 billion yen loan in 2000 for a golf course assessed by the borrower as being worth 6.3 billion yen but by banking regulators as worth 100 million yen, sources said Monday.

On Sunday, police arrested Shigeru Takagi, 67, former president of Ishikawa Bank; Mutsumi Kawaguchi, 63, former senior managing director; and Michihiko Fujita, 42, former head of the bank’s Tokyo office; on suspicion of breach of trust.

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