Saturday May 26, 2012

JAPAN NEWS AND DISCUSSION

Senior METI official arrested over insider dealing

Crime Jan. 13, 2012 - 07:10AM JST ( 5 )

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5 Comments

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some14someJan. 13, 2012 - 07:27AM JST

they had arrested a 53-year-old civil servant on suspicion of insider trading over share deals in a troubled chip maker.

suspended sentence after several months...may not appear in news again.
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LFRAgainJan. 13, 2012 - 03:56PM JST

What?! A wealthy person seeking to skirt the law in order to become even wealthier, even in an economy where honest people are barely making ends meet?! Say it ain't so!!
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viking68Jan. 13, 2012 - 05:53PM JST

LFRAgainJAN. 13, 2012 - 03:56PM JST

What?! A wealthy person seeking to skirt the law in order to become even wealthier, even in an economy where honest people are barely making ends meet?! Say it ain't so!!

Really, the guy made/stole 2 million yen on the deal. He isn't getting rich off of this deal, and as a government employee is not likely to be rich to begin with.

I just think he is just a dumb variety of criminal.

If he were a real criminal, he would have contacts who used this information and payed him cash in a paper bag. Maybe Ozawa has some tips.
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warnerbroJan. 13, 2012 - 11:48PM JST

Not a Mensa candidate, I take it. The semiconductor industry would have paid him much more to supervise METI after he retired in just a few years.
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LFRAgainJan. 14, 2012 - 08:02PM JST

" . . . and as a government employee is not likely to be rich to begin with."

With an annual salary in the US$200,000 range, supplemented by non-performance based annual bonuses of $16,000, in a society experiencing deflation and stagnant median annual incomes of $30,000, he's rich by most estimates.

No, he may not be rolling in it, but to have the wherewithall and luxury to made 2 million yen with a just a couple of phone calls is something I think a very scarce few of us can claim from personal experience.