Mizuho Crime-Loan Probe Shows Control Failure

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Oct. 28 (Bloomberg) –- Bloomberg’s Zeb Eckert reports on the Mizuho crime-loan probe which proves to be a case of poor internal controls rather than a cover up. He speaks to Rishaad Salamat on Bloomberg Television’s “Asia Edge.” (Source: Bloomberg)

Upwards after finding out there was no cover-up and loans to japanese crime syndicates.

Missing a crackdown against the yakuza continue.

We are talking about loans to organized crime mainly through 230 transactions in automobile loans and this independent panel finds it is a case of poor internal control rather than an overall cover-up or an effort by the executives at the bank to mislead japanese regulators.

The investigation has been ongoing.

The findings to date using pressure on the company's president.

He is due to report today to the mantle services agency, the regulator over the bank's findings.

This is serious business, loans to the yakuza, the affiliate to the mafia, organized crime, a big issue.

$2 million in loans at issue and the regulators are taking a closer look at it.

The panel interviewed 81 current and former officials.

They went through e-mails and conducted a full investigation.

The nikkei news is reporting

This text has been automatically generated. It may not be 100% accurate.


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