Ex-Japan Life Chm., 13 Others Arrested over Massive Fraud
Tokyo, Sept. 18 (Jiji Press)--Japanese police arrested Takayoshi Yamaguchi, 78, former chairman of failed multilevel marketing company Japan Life Co., and 13 others over a massive fraud case on Friday.
Damages suffered by nearly 10,000 victims in 44 prefectures may have totaled about 210 billion yen, according to sources at a joint investigation headquarters set up by Tokyo's Metropolitan Police Department and the police departments of Aichi, Fukushima and three other prefectures.
The damages total is one of the largest ever among domestic fraud cases, the sources said.
The arrested suspects also include former Japan Life President Hiromi Yamaguchi, the 48-year-old second daughter of the former chairman, and former company director Shinji Yasuda, 62.
They allegedly swindled a total of 12 people n their 50s to 80s in Fukushima, Niigata, Shizuoka, Aichi and four other prefectures out of a total of 80 million yen under fraudulent contracts between Aug. 4, 2017, and Nov. 7 that year.
[Copyright The Jiji Press, Ltd.]