Moneylender SFCG goes under with over 300 bil. yen in debts

Moneylender SFCG goes under with over 300 bil. yen in debts

TOKYO, Japan - SFCG Co. chairman Kenshin Oshima bows at a press conference at the Tokyo Stock Exchange on Feb. 23 in which he announced the Tokyo-based moneylender, formerly known as Shohkoh Fund Co., filed for bankruptcy protection with the Tokyo District Court after accumulating debts of more than 300 billion yen.

Shohkoh Fund president testifies at Diet

Shohkoh Fund president testifies at Diet

TOKYO, Japan - Kenshin Oshima, president of Tokyo-based nonbank moneylender Shohkoh Fund and Co., testifies Dec. 14 before the House of Councillors Committee on Financial Affairs as a sworn witness. Oshima, 51, denied allegations that he instructed employees to use strong-arm tactics when collecting loans. Shohkoh Fund is one of the nation's largest ''shoko'' lenders, which specialize in high-interest, collateral-free loans to small firms.

Nonbank moneylender bosses testify in Diet

Nonbank moneylender bosses testify in Diet

TOKYO, Japan - Kenshin Oshima (L), president of Shohkoh Fund and Co., and Kazuo Matsuda (R), president of Nichiei Co., wait in a Diet room Nov. 11. They have been called to testify before the House of Councillors committee on fiscal and financial system affairs. Both finance companies that specializes in loans to small companies at high interest rates are at the center of a scandal over its loan collection methods.

Moneylender SFCG goes under with over 300 bil. yen in debts

Moneylender SFCG goes under with over 300 bil. yen in debts

TOKYO, Japan - SFCG Co. chairman Kenshin Oshima bows at a press conference at the Tokyo Stock Exchange on Feb. 23 in which he announced the Tokyo-based moneylender, formerly known as Shohkoh Fund Co., filed for bankruptcy protection with the Tokyo District Court after accumulating debts of more than 300 billion yen. (Kyodo)

Shohkoh Fund president testifies at Diet

Shohkoh Fund president testifies at Diet

TOKYO, Japan - Kenshin Oshima, president of Tokyo-based nonbank moneylender Shohkoh Fund and Co., testifies Dec. 14 before the House of Councillors Committee on Financial Affairs as a sworn witness. Oshima, 51, denied allegations that he instructed employees to use strong-arm tactics when collecting loans. Shohkoh Fund is one of the nation's largest ''shoko'' lenders, which specialize in high-interest, collateral-free loans to small firms.

Nonbank moneylender bosses testify in Diet

Nonbank moneylender bosses testify in Diet

TOKYO, Japan - Kenshin Oshima (L), president of Shohkoh Fund and Co., and Kazuo Matsuda (R), president of Nichiei Co., wait in a Diet room Nov. 11. They have been called to testify before the House of Councillors committee on fiscal and financial system affairs. Both finance companies that specializes in loans to small companies at high interest rates are at the center of a scandal over its loan collection methods.