Further raid made on Dai-Ichi head office

Further raid made on Dai-Ichi head office

Investigators from the Tokyo District Public Prosecutors Office staged a second raid on the head office of Dai-Ichi Kangyo Bank in connection with the alleged payoff scandal. Separately, Hiroshi Mitsuzuka, finance minister, hinted at tough penalties for the bank. Investigators are believed to be looking for evidence that the bank provided funds to the alleged sokaiya extortionist Ryuichi Koike. Mr Mitsuzuka said his ministry would respond to DKB's alleged involvement in the illegal payout in a "strict manner", and would also examine the possibility of conducting surprise inspections on banks to prevent them from concealing illegal lending.

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