Loans

Japanese ruling coalition ex-lawmaker charged with illicitly brokering gov’t loans

Japanese ruling coalition ex-lawmaker charged with illicitly brokering gov't loans
Written by Publishing Team



Kiyohiko Toyama of Komeito is seen here in a file photo taken on March 26, 2019 (Mainichi / Yuki Miyatake)

TOKYO – Kyohiko Toyama, a former deputy from the small ruling coalition party Komeito, was indicted along with three others on December 28 on suspicion of illegally arranging public money loans under Japan’s coronavirus pandemic trade aid scheme.

The Tokyo District Prosecutor’s Office’s special investigation unit has accused Toyama, 52, of arranging corporate loans from Japan Finance Corp. (JFC) backed by the government without a license from the lender – a violation of the Lending Money to Business Act. According to sources close to the case, Toyama, who was a former member of the House of Representatives, has admitted the allegation. He reportedly received about 10 million yen (about $87,000) in thank-you money from the companies involved.

The last former Komeito member of the House of Representatives to have been criminally indicted by the SIU was Katsuya Ikeda, who was convicted in 1989 without arrest in connection with the Recruit internal trade and corruption scandal.

(Japanese original by Kazuya Shimura, Yujiro Futamura, Ai Kunimoto and Tomonori Matsuo, Tokyo City News Division)

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