crime

Former AIJ president gets 15 years for pension fund fraud

16 Comments

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© 2013 AFP

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16 Comments
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Only 15 years? He should be in jail for life for the crime he has committed. Not justified for victims who lost every pension money. This is just a slap on wrist.

5 ( +5 / -0 )

15 years, while not long enough, can hardly be compared to a slap on the wrist, lets be glad he at least got some kind of punishment. Which is very rare.

6 ( +6 / -0 )

When you consider the scale and number of victims involved, it is a tepid decision by the court.

0 ( +0 / -0 )

As well as the jail terms the court also confiscated 570 million yen of AIJ’s assets and separately ordered them to pay a total of 15.7 billion yen. ////////////////////////////////////////////////////////////////

Court gave the verdict maximum it could do. Beside that, 15 years of prisonment. The people who lost money will be awarded back money plus more acording to law. Victims will sue to get money back. Justice.

-1 ( +0 / -1 )

At least he got prison, usually they get a free pass and a suspended sentence.

0 ( +1 / -1 )

I'm surprised the prison terms weren't suspended, Japan rarely makes guilty executives actually serve time.

1 ( +3 / -2 )

Before reading all of the comments I kept looking for the words "stayed" and "suspended." Does anyone else do that when reading about crimes in Japan?

3 ( +3 / -0 )

Another day, another pension fraud case. Such a joke.

The system WILL collapse!

1 ( +1 / -0 )

Sighclops - Look around you. The system has already collapsed. I agree with the judge's sentence and with his description of the crime, but when you tie this report to yesterday's report about black companies it is not a far stretch of the imagination to conclude that, this kind of fraud and exploitation of employees are SOP in Japan

-5 ( +0 / -5 )

Another day, another pension fraud case. Such a joke.

The system WILL collapse!

I may be mistaken, but I don't think you understand this article...

0 ( +1 / -1 )

The ironic thing is that the Japanese government has been no less incompetent with their management of the national pension plan. Those of us who have paid a lot into the plan are not likely to get much in return. Do you suppose the bureaucrats who have mismanaged the plan will ever be sentenced to jail? Not likely.

-2 ( +2 / -4 )

" Those of us who have paid a lot into the plan are not likely to get much in return. Do you suppose the bureaucrats who have mismanaged the plan will ever be sentenced to jail? Not likely."

Ponzi scheme.

0 ( +0 / -0 )

The people who lost money will be awarded back money plus more acording to law. Victims will sue to get money back.

@toshiko: where should that money come from?

0 ( +0 / -0 )

!gomenpade. .... As well as the jail terms the court also confiscated 570 million yen of AIJ’s assets and separately ordered them to pay a total of 15.7 billion yen......... They were convicted and penalized. (Not stage of indited)o pension funds can sue now. These criminals (convicted so they are in the category of criminals) are not bureaucrats. According to conviction record, they cheated (stole?) and it was beyond category of mismanagement. (criminal conviction)/ Each victim pension funds now can use civil lawsuits to get money back.

0 ( +0 / -0 )

@toshiko: the 570 million are just a fraction of the damage. How do you think they get enough money? The fact that the investors can claim 15.7 billion doesn't mean they will ever see the money.

0 ( +0 / -0 )

It stole 24.8 billion yen. It is still operating business. total 16.270 billion yen was confisticated. However, because it is still operating business, the gain of their business actions will be used to pay share of business profits to victim funds, The victims are not insisting to withdraw their investment yet. The business entity itself is still operating.

0 ( +0 / -0 )

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