Japan's rogue trader loses appeal

Japan's rogue trader loses appeal

A COURT in Tokyo has rejected an appeal by Yasuo Hamanaka (pictured), Sumitomo Corp's former rogue copper trader, and upheld a lower court ruling in March 1998 which jailed Hamanaka for eight years for fraud and forgery charges. The judge said there were "no extenuating circumstances". Hamanaka has admitted charges but his defence team insisted that slack monitoring by Sumitomo was also to blame. Sumitomo has denied any involvement.

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