Credit cooperative goes broke over Princeton bonds

Credit cooperative goes broke over Princeton bonds

KOBE, Japan - Hajime Shinobe, chief of Kita Hyogo Credit Cooperative, apologizes at a news conference at Hyogo Prefecture Hall in Kobe on Oct. 29, explaining that the financial institute went bankrupt due to huge losses incurred through its purchase of U.S. Princeton bonds. The credit cooperative lost 1 billion to 2 billion yen on the bonds bought from the Tokyo branch of Cresvale International Ltd.

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