Ex-Japan Life Chair Given 8 Years in Prison for Fraud
Tokyo, Jan. 28 (Jiji Press)--Tokyo District Court sentenced Takayoshi Yamaguchi, former chairman of failed multilevel marketing company Japan Life Co., to eight years in prison on Friday over a massive fraud case.
Public prosecutors had sought a 10-year prison term for Yamaguchi, 79.
Presiding Judge Ryuta Asaka condemned Yamaguchi for "making light of clients' precious assets in order to help the company survive." Yamaguchi "deserves strong criticism."
Asaka suggested that Japan Life won contracts by preying on people's concerns about their lives after retirement.
Yamaguchi took advantage of his strong control over the company and made employees work to conclude new contracts with clients even though the company was facing financial difficulties, the judge said. "It's obvious that he should be the one to bear all responsibility," he added.
[Copyright The Jiji Press, Ltd.]