Ex-prime minister Miyazawa passing away, four family members killed by the breadwinner killing himself too in the north, Steel Partners losing each and every bid at the stockholders' meetings, gov't investigators releasing a report on the largest train accident at Amagasaki... much more I'd mention as the top news if it weren't today...
In the judicial section, we were bustling...
with the arrest of a VIP!
Still it was a crucial day for me... Did I get the right information? Did I make the right decision? I'll only know its value later on...
(article from Kyodo)
◆Ex-intelligence agency chief Ogata held over Chongryon premises deal
TOKYO, June 28 KYODO
Public prosecutors arrested former intelligence agency chief Shigetake Ogata and two other people Thursday on suspicion of fraud in connection with an aborted purchase of the head office of the pro-Pyongyang Korean residents group in Japan.
The prosecutors suspect that 73-year-old Ogata, a lawyer who formerly headed the government's Public Security Intelligence Agency, and the two others defrauded the General Association of Korean Residents of Japan, known as Chongryon, of the ownership of its headquarters building and associated land in Tokyo's Chiyoda Ward.
The two others are Tadao Mitsui, the 73-year-old former president of a real estate company, and Koji Kawae, 42, a former bank official and company executive. Both are believed to have brokered the purported deal between Ogata and Chongryon.
Ogata and Mitsui have denied the allegation, while Kawae admitted to the charge when they were questioned after being arrested by a special squad of the Tokyo District Public Prosecutors Office, investigative sources said.
Asked to comment on the arrest of Ogata by reporters, Prime Minister Shinzo Abe said, ''It is highly regrettable as he once assumed a post of heavy responsibility as a public intelligence chief.''
The prosecutors moved to arrest the three after determining that they had intended to deceive Chongryon from the outset of the negotiations, while Chongryon was looking for a buyer for the head office to hamper the possible seizure of the property in connection with a lawsuit filed by a state-backed debt collector with the Tokyo District Court.
Investigators believe the three also intended to swindle Chongryon of 480 million yen in funds that were provided by the group's chief vice chairman Ho Jong Man to Mitsui in the form of compensation, the sources said.
The prosecutors had initially alleged that Ogata and Chongryon colluded to falsify the deal with the aim of eluding the possible compulsory seizure, and raided the home of Ogata and other related locations on suspicion the ownership transfer was falsely registered.
However, the prosecutors applied the charge of fraud to the three after learning that Chongryon had really intended to sell the head office.
According to investigations so far, the three are suspected of having lied to a Chongryon representative, claiming they could definitely find people interested in purchasing the head office, and of concluding a contract worth 3.5 billion yen on May 31.
Ogata is then alleged to have registered notary documents stating ownership had been transferred as of June 1 to the Harvest investment advisory company that he headed without any payment to Chongryon being made.
The registration of the ownership transfer was retracted on the morning of June 18 before the court ruling later that day.
Chongryon was represented in the deal by Koken Tsuchiya, former vice chairman of the Japan Federation of Bar Associations, and it is believed that Mitsui introduced Ogata to Tsuchiya in mid-April and brought them together to negotiate the deal.
Commenting on the arrest, Tsuchiya said, ''I believed in him (Ogata). It is deplorable if he had not acquired sufficient funds for the deal.''
Tsuchiya at the time was searching for a buyer for the head office, fearing that the property could be seized if Chongryon lost the suit filed by Resolution and Collection Corp.
The RCC filed the lawsuit in November 2005 seeking repayment of the nonperforming loans it had taken over from 16 failed credit associations that had served Korean residents in Japan.
In its ruling on June 18, the court ordered Chongryon to repay around 62.7 billion yen to the RCC and effectively seized the head office Tuesday.
Kawae is said to be an acquaintance of Mitsui and helped found Harvest last September.
After the dubious transfer registration came to light on June 12, Ogata told reporters he had concluded the deal so that he could help maintain the operations of Chongryon to guarantee the protection of its affiliates' rights.
Ogata has denied that the deal was fake and said he intended to secure funds for it. ''I feel there is a political intent to scrap the deal,'' he said after the prosecutors raided his home on June 13.
==Kyodo
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