• Kyodo

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The president of an investment firm was cleared of fraud Wednesday by the Naha District Court in the first-ever ruling in a case where the defendant was subject to mandatory indictment by a group of court-appointed lawyers.

Presiding Judge Hideyuki Suzuki ruled Toshihiro Shirakami, 60, was not guilty of swindling two people out of ¥36 million in cash in 2002 through unlisted shares in a firm the lawyers, acting as prosecutors, alleged he knew was unlikely to become listed.

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