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UFJ Bank faces criminal complaint for blocking inspection
www.chinaview.cn 2004-10-07 16:57:11

    TOKYO, Oct. 7 (Xinhuanet) -- Japan's Financial Services Agency filed a criminal complaint on Thursday against UFJ Bank, claiming that the major lender obstructed inspections, Financial Services Minister Tatsuya Ito said.

    The Tokyo District Public Prosecutors Office is likely to launch an investigation on the issue.

    According to the agency, UFJ Bank staffers hid documents about the financial conditions of major clients and destroyed documents near the inspectors in an inspection operation last October.

    In addition, the bank also doctored files of executive meetings and materials indicating that there were serious worries about the financial standing of major borrowers, the financial watchdog said.

    After a series business improvement orders from the agency, UFJBank admitted in July that it concealed documents, and carried outa massive disciplinary move, including firing Vice President Kazuyoshi Okazaki.

    UFJ Bank is a core bank of UFJ Holdings which is in a merger process to form the world's largest financial company with Mitsubishi Tokyo Financial Group Inc. Enditem    

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