• Kyodo News

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The chairman and executives of bankrupt Tokyo-based bedding supplier L&G K.K. were arrested Thursday on suspicion of defrauding investors.

Chairman Kazutsugi Nami, 75, and other L&G executives are believed to have collected ¥118 million in total from six clients between July and December 2007 despite knowing they could not pay the promised returns on investments, according to a joint investigation squad of the Metropolitan Police Department and the Miyagi and Fukushima prefectural police forces.

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