NAHA, Okinawa Pref. (Kyodo) The president of an investment firm in Nanjo, Okinawa Prefecture, who allegedly swindled three clients out of ¥48 million in 2002 will face mandatory indictment, possibly Tuesday, based on an independent judicial panel's decision.
The man is expected to be charged by three lawyers appointed by the Naha District Court to act as prosecutors, now that the panel has twice overturned prosecutors who chose not to indict him.
It will be the third prosecution in line with a 2009 revision of the inquest of prosecution law. Under the revised law, indictments are mandatory if an inquest panel decides twice that the accused should be charged.
The revision led to the indictments in April of a former deputy head of a police station who allegedly failed to prevent a 2001 fatal crush of fireworks spectators in Akashi, Hyogo Prefecture, and three former presidents of West Japan Railway Co. over a 2005 train crash that killed 107 people.
The Naha Committee for the Inquest of Prosecution determined that the investment firm president, whose name was not provided, may have swindled the three investors between April and May in 2002 by getting them to buy unlisted shares in a company.