A former president of a medical consulting company was sentenced Monday to 15 years in prison and fined ¥5 million for conspiracy by defrauding a Japanese unit of failed Lehman Brothers Holdings Inc. using fabricated Marubeni Corp. documents.
The Tokyo District Court found Shigenori Saito, 47, who was president of Asclepius Ltd., guilty of conspiring to deceive the Japanese arm of the now-defunct U.S. securities company into investing ¥37.1 billion in bogus hospital restructuring projects between August and November 2007. The punishment was in line with the prosecutors’ demands.
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