Side effects..Mizuho Financial Group


The scandal over Mizuho Bank’s loans to yakuza has prompted customer defections, raising stock market concerns over a possible downturn in the lender’s earnings. The loan scandal has upset the customers and prefectural and municipal governments that used Mizuho as a financial institution for collections and payments of public money, including the Tokyo Metropolitan Government and the cities of Osaka and Kitakyushu. (Japantimes)

Mizuho Financial Group has admitted senior managers knew three years ago that the bank had lent money to Japanese criminal gangs. The bank had previously denied knowing about the loans to yakuza gangsters, worth 200m yen.  (BBC)

I don’t know..but my feeling is that Mizuho bank probably isn’t the only bank which has done something like this..I strongly believe that the major corporations are somehow tied to Yakuza groups or members.

 

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