URGENT: Head of used car dealer Bigmotor to step down over insurance fraud

Bigmotor Co. President Hiroyuki Kaneshige said Tuesday he will step down as the used car chain has been grilled over allegations that it charged excessive repair fees and also made fraudulent insurance claims.

“We’ve caused so much trouble and concern to customers and nonlife insurance companies. I am truly sorry,” Kaneshige, 71, also founder of the company, said at a press conference. He will resign on Wednesday.