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Sawako head, 3 ex-execs held over window dressing.

Publication: Japan Weekly Monitor
Publication Date: 10-DEC-01
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NAGOYA, Dec. 4 Kyodo

(EDS: UPDATING WITH ARREST OF SAWAKO PRESIDENT, OTHERS)

Police arrested the president of failed Nagoya-based condominium builder Sawako Corp. and three former executives on Tuesday on suspicion of financial window dressing in 1998 and 1999 to pay illegal dividends.

The president, Junichi Ohira, 55, and the three others were arrested on suspicion of posting fictitious profits totaling 3 billion yen for the...

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