Three individuals, together with the president, invested in an actual property firm in Saitama Prefecture that truly lent cash at a excessive rate of interest by letting prospects purchase land owned by the corporate at a worth that significantly exceeded the unique worth when lending cash. He was arrested on suspicion of violating the regulation.
Three individuals had been arrested, together with Junji Kawai (74), president of Libereste, an actual property firm headquartered in Soka City, Saitama Prefecture.
According to investigative sources, from 2018 to the next 12 months, when lending to enterprise companions, the president and others made them purchase land owned by the corporate, corresponding to Gifu City and Kure City, Hiroshima Prefecture, at a worth that significantly exceeded the unique worth. There is a suspicion of violating the funding regulation, saying that the cash was lent at a considerably excessive rate of interest.
There is a suspicion that these lands had been bought at costs dozens of occasions greater than the acquisition worth as a situation for the presidents to proceed with financing.
The Metropolitan Police Department has decided that the sale quantity of the land was considerably the curiosity on the mortgage, and that the mortgage was made at a excessive rate of interest.
The firm is engaged within the development and sale of condominiums, and is listed on the usual market of the Tokyo Stock Exchange.
The Metropolitan Police Department is investigating that the president and others used the land held in the actual property enterprise nationwide to repeatedly make unlawful loans underneath the guise of shopping for and promoting actual property.