Criminal Case to be Established against Former Vice President and Others at UFJ, a Major Bank, for Obstruction of Government Inspections

The Special Investigation Department of the Tokyo District Public Prosecutors Office will be establishing a criminal case against three former executives of UFJ Bank for violation of the Banking Law. They are suspected of obstructing inspections by the Financial Services Agency through such means as falsifying loan customers' financial data in order to make the bank's bad loans look smaller. It was a systematic crime that involved higher level executives and can be said to be a Japanese version of the Enron scandal.