• Kyodo News

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Failed bedding supplier L&G K.K., which allegedly ran a huge Ponzi scam for which its top executives were arrested Thursday, planned to issue another quasi-currency dubbed the “wonten” in South Korea similar to its “enten” in Japan before it collapsed in 2007, sources said Friday.

L&G Chairman Kazutsugi Nami, 75, and around 20 L&G executives were arrested Thursday on suspicion of defrauding investors. The wonten plan was apparently aimed at finding a way to survive overseas after encountering cash-flow problems in Japan, the sources said.

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