Daiwa Officials Admit To Shady Deals

Daiwa Securities Co officials suspected of making illegal payoffs to a corporate racketeer admitted to some of the suspected deals during an investigation by Japanese regulators, a government source said on Thursday. Earlier, prosecutors and the Securities and Exchange Surveillance Commission (SESC) jointly raided Daiwa's offices on the suspicion that Daiwa made illegal payoffs totalling ¥67.28 million to corporate racketeer Ryuichi Koike, the central figure in a high-profile financial scandal.