Chairman, execs of L&G arrested over organized fraud

Friday 06th February, 04:53 AM JST

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6 Comments

kurisutofu at 08:02 AM JST - 6th February

What is "Enten"?
kweto at 08:19 AM JST - 6th February

From the BBC and Wikipedia sites:

[Nami] also collected funds by issuing ''Enten'', saying that the quasi-currency could be used at company-sponsored bazaars nationwide and internet markets, according to an investigation reported by Kyodo news agency.

Also, the total amount "investors" were bilked out of is apparently the largest in Japanese history -- nearly 129 BILLION yen ($1.4Bln).

An anecdote. Many, many years ago down in Kumamoto I heard about a group of aggressive futon-sellers. They'd somehow put out word of incredible prices on futon and bedding to attract (lure?) housewives and obaasan-tachi to some temporarily setup sales spot, but, when after listening listening to the sales pitch some potential customers nonetheless declined, the sales-staff would become quite aggresive, I guess trying to scare the ladies into submission. After then, I've heard of this group two or more times, the most latest being in my small hometown, and every time got a sense of something not altogether above-board.

Could these all be the same group?
Altria at 10:07 AM JST - 6th February

This company made-off with a lot of peoples' money!

They made their own bed, now they have to lie in it.
BBLeo at 10:35 AM JST - 6th February

Perhaps their time is up. And at the end they will walk free with suspended sentence, if they engage a 'fat lawyer.’ How disgusting they are ripping of people and enjoying their 'bloody wealth.' They must have their own motto: 'YES WE CAN.'
sk4ek at 12:22 PM JST - 6th February

On the other hand, I'm astonished that anyone could attend one of this group's seminars (a bit of which were shown on the news...) and actually believe a single word that came out of this particular charlatan's mouth. One look at him and one can see he reeks of dishonesty (and yes, I realize hindsight is 20-20, but really... ). I have some sympathy for the unsophisticated grandmas from the countryside who got gouged by this guy, but any average city folk really should have known better. The man's curls are practically held in place with snake oil, for heaven's sake.
outofmydepth at 06:51 PM JST - 6th February

enten is the money going into this joker`s pocket!!! i can say after seeing him on tv - the man is a sociopath!!!!! total disregard for the rest of humanity.