Japanese bank SFCG Co had deceived creditors

Japanese bank SFCG Co. has problems with the law

In brief: Ruined Japanese bank SFCG Co. is suspected of defrauding creditors.

Police in Japan plans to launch an investigation against several suspects in the illegal transfer of funds of the bank SFCG Co., Bankrupted in 2009, its subsidiary. According to the agency, former president of the credit institution Kenshin Oshima and several other people suspected that acted against the interests of creditors. Oshima, knowing about the plight of SFCG Co., Gave us his relative large mortgages.

The court-appointed administrator found that the 267 billion yen ($ 2.9 billion) were allocated to the firm in September 2008 when the bank had already collided with the first financial difficulties, and another 123.8 billion yen ($ 1.4 billion) Credit SFCG Co. gave the same firm in January-February 2009, when the bankruptcy of the bank was already inevitable. The bank was founded by Oshima in 1978 and specialized in lending to small businesses.

Ukrainian Globalist
2010-06-16 04:26, Economics.

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