10 Years Sought for Ex-Japan Life Chm. Yamaguchi for Fraud
Tokyo, Dec. 6 (Jiji Press)--Japanese public prosecutors on Monday sought a prison term of 10 years for Takayoshi Yamaguchi, who was chairman of failed multilevel marketing company Japan Life Co., over a possibly 210-billion-yen fraud case.
During a hearing at Tokyo District Court, the prosecutors said that Yamaguchi, 79, had committed a "habitual crime using cunning methods," describing what he is alleged to have done as "malicious."
His trial was concluded after the defense side in their final arguments called for leniency. The court is scheduled to hand down a ruling on Jan. 28.
In their closing statement, the prosecutors argued that Yamaguchi "sacrificed clients in an attempt to extend the life of his company and secure its assets."
The prosecutors claimed that the fraud's victims, many of whom were elderly people, were "in anguish," including over losing their post-retirement money.
[Copyright The Jiji Press, Ltd.]