Japanese Banker Linked To Scandal Kills Himself

A former chairman of Dai-Ichi Kangyo Bank died in hospital on Sunday after hanging himself at his home two days after he was questioned by prosecutors over his role in a payoff scandal involving sokaiya racketeers.

A spokesman for Kyorin University Hospital in the suburbs of Tokyo said that Kuniji Miyazaki, 67, died on Sunday evening after the morning suicide attempt.

Prosecutors consider Miyazaki a key figure in their investigation of the scandal involving DKB and Japans largest brokerage, Nomura Securities Co., which are both believed to have made illegal payoffs to racketeers. Police said that they had found a suicide note in his house. Miyazaki had been brought in for questioning with another senior official of DKB on Friday and police said he was to be questioned again on Sunday.

 

Mr Miyazaki has just died, the spokesman told Reuters. He had remained unconscious since he was brought here this morning. He had been under intensive care, he said.

Miyazaki stepped down as a senior adviser to DKB in mid-June after admitting contacts with a racketeer who is at the centre of the scandal involving DKB as well as Nomura Securities.

Miyazaki served as DKB president from 1988 to 1992 and as chairman from 1992 to April 1996.

His tenure included the period from 1994 to 1996 when 11.78 billion yen ($103 million) in dubious loans were made to the racketeer, Ryuichi Koike.

The scandal is unfolding just as Japan kicks off its Big Bang reforms of its long-protected financial sector