CHINA-TIANJIN-RCEP-FOREIGN COMPANIES (CN)

CHINA-TIANJIN-RCEP-FOREIGN COMPANIES (CN)

(230720) -- TIANJIN, July 20, 2023 (Xinhua) -- This photo taken on May 30, 2023 shows water treatment equipment produced by the ITM (Tianjin) Mechanic Equipment Co., Ltd. in north China's Tianjin Municipality. TO GO WITH "Economic Watch: Foreign companies see great opportunities in China as RCEP takes full effect" (Xinhua)

AIJ, ITM chiefs arrested over pension fund fraud

AIJ, ITM chiefs arrested over pension fund fraud

TOKYO, Japan - A police investigator brings in cardboard boxes for a search operation at the building housing the head offices of AIJ Investment Advisors Co. and ITM Securities Co., which is effectively under AIJ's control, in Tokyo's Chuo Ward on June 19, 2012. AIJ President Kazuhiko Asakawa and others, including ITM president, were arrested the same day in connection with a high-profile fraud allegation over losses of more than 100 billion yen in pension assets entrusted to AIJ, police said.

Parties involved in AIJ scandal

Parties involved in AIJ scandal

TOKYO, Japan - In Tokyo on March 27, 2012, (from L to R) Kazuhiko Asakawa, president of AIJ Investment Advisors Co., Hideaki Nishimura, president of ITM Securities Co. which is effectively under AIJ's control, and Isao Ishiyama, a retiree of the now-defunct Social Insurance Agency who currently operates a pension fund consultancy, sit at a session of the House of Representatives' Committee on Financial Affairs which addressed AIJ's loss of assets it had been managing on behalf of pension funds. They were three of the five witnesses to testify at the lower house's committee.

Parties involved in AIJ scandal

Parties involved in AIJ scandal

TOKYO, Japan - In Tokyo on March 27, 2012, (from L to R) Kazuhiko Asakawa, president of AIJ Investment Advisors Co., Hideaki Nishimura, president of ITM Securities Co. which is effectively under AIJ's control, and Isao Ishiyama, a retiree of the now-defunct Social Insurance Agency who currently operates a pension fund consultancy, sit at a session of the House of Representatives' Committee on Financial Affairs which addressed AIJ's loss of assets it had been managing on behalf of pension funds. They were three of the five witnesses to testify at the lower house's committee. (Kyodo)