Osaka police arrest two men wanted for money laundering upon their return from Dubai|Arab News Japan

Osaka police arrest two men wanted for money laundering upon their return from Dubai|Arab News Japan

Arabic News Japan

TOKYO: Two men wanted for “laundering” illegal casino proceeds and fraud were arrested Tuesday upon their return to Japan from Dubai.

The two suspects – ISHIKAWA Sotaro and YAMADA Kosuke – are believed to have left the country in February. They were arrested upon arrival at Kansai International Airport after a flight from the United Arab Emirates.

They were accused of conspiring with FUJII Ryohei, who is indicted on money laundering charges, to set up a company in the name of a man in his 20s and open a corporate account.

Between May and June 2011, they transferred a total of approximately 5.59 million yen, including 2.1 million yen in losses from investment fraud, to another company account, making it impossible to determine whether these were criminal proceeds.

The group is said to have opened about 4,000 corporate accounts with about 500 shell companies and received money to launder money, receiving at least 70 billion yen in deposits.

Police have also issued an arrest warrant for another suspect, IKEDA Takamasa, who is believed to be one of the leaders of the group, on suspicion of violating the Organized Crime Suppression Act.