2 Years Sought for Ex-Lawmaker Toyama over Loan Brokering

Society

Tokyo, March 11 (Jiji Press)--Japanese public prosecutors on Friday sought a prison term of two years and a fine of one million yen for former ruling coalition lawmaker Kiyohiko Toyama for his alleged involvement in the illegal brokering of state COVID-19 relief loans.

The 52-year-old former House of Representatives member from Komeito, the junior coalition partner of the ruling Liberal Democratic Party, has already admitted charges of violating the moneylending control act.

Toyama, who has served as state finance minister, is suspected of illegally brokering loans without required registration on 111 occasions between March 2020 and June 2021 from government-backed Japan Finance Corp. to businesses struggling with the fallout of the pandemic.

Of the 111 loan deals, 82 were allegedly handled by Toyama alone. He is also suspected of conspiring with former corporate executive Atsushi Maki, 74, who has also been indicted for illegal loan brokering, on the remaining 29 deals.

Under the deals brokered by Toyama, about 3,728 million yen in loans in total are believed to have been extended by JFC branches in 16 prefectures.

[Copyright The Jiji Press, Ltd.]

Jiji Press