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Chairman of Richland arrested Police served arrest warrants for Masuo Saeki, chairman of health food sales company Richland, and 16 others Jan. 30 on suspicion that they swindled hundreds of millions of yen by urging several people to invest in hopeless business projects, investigative sources said. It is believed that they collected a total of about ¥50 billion from around 10,000 people who were encouraged to invest in businesses, such as salvaging a sunken ship, on the premise that the company would make annual dividend payments of around 20 percent for five years.
The Japan Times Weekly: Feb. 3, 2007 |
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