Tuesday, 19 June 2012

Japan asset firm chief arrested in pension scandal

AIJ’s operations were suspended in February in a scandal that has rocked Japan where a rapidly ageing population is increasingly looking to private pension funds to help them through their retirement. – AFP photo

TOKYO: Japanese police on Tuesday arrested the head of an asset management company at the centre of scandal that saw the loss of almost $1.4 billion in pension fund money.

Tokyo Metropolitan Police said it held Kazuhiko Asakawa, 60, president of AIJ Investment Advisers,

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