Client Data of Apartment Builder Tateru Padded to Get Loan

Economy

Tokyo, Sept. 1 (Jiji Press)--An employee of apartment construction and management firm Tateru Inc. <1435> has padded a client's bank deposit data to increase the chance of the client passing a loan screening by a bank, informed sources said Saturday.

The revelation came on the heels of a real estate-related lending scandal involving regional lender Suruga Bank <8358>, suggesting that fraudulent behavior to get loans for real estate investment may be rampant among related businesses.

In late April, the client, a corporate employee in his 50s who lives in Tokyo, concluded a contract with Tateru on the purchase of an apartment property, according to his lawyer.

The client was then advised by the company to apply for loans from Saikyo Bank, based in Shunan, Yamaguchi Prefecture, to cover the purchasing cost of 110 million yen.

The client submitted a document showing that there was only 230,000 yen in his bank account, but the Tateru worker told him that it was not a problem. He was later informed that the loan application was accepted by Saikyo Bank.

[Copyright The Jiji Press, Ltd.]

Jiji Press