Japan Arrests 4 Businessmen in Loan Scandal
Japanese prosecutors are reported to have arrested four businessmen Friday over a huge loan scandal that political sources believe could taint dozens of top politicians.
According to NHK public television, the four included the former top executive of Tokyo Sagawa Kyubin, an affiliate of the country’s second-largest parcel delivery and trucking group.
The executive, Hiroyasu Watanabe, has been implicated in at least $4 billion in direct, indirect and guaranteed loans, some to firms linked to a leading crime syndicate.
Reports have said part of the money was returned in kickbacks that were used to pay off politicians.
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