Kazutsugi Nami

Kazutsugi Nami

Kazutsugi Nami (波 和二 Nami Kazutsugi?, b. 19 May 1933 in Mie Prefecture) is a Japanese businessman and chairman of Tokyo-based bedding supplier Ladies & Gentlemen (L&G).[1] He has been involved in a number of fraudulent schemes since the 1970s, and was arrested most recently on 4 February 2009 on suspicion of orchestrating a massive investor fraud involving the "Enten" quasi-currency.[2]

Contents

APO Japan

In the 1970s, Nami became vice president of APO Japan Co., an auto equipment sales company in Tokyo. The company was involved in a pyramid scheme, collecting investments from about 250,000 people in a scam based on sales of exhaust gas removal devices. The company's operations became a social problem, and it went bankrupt in 1975.[3]

Nozakku

In 1973, before the bankruptcy of APO Japan, Nami established Nozakku Co., a company which sold "magic stones" that were claimed to turn tapwater into natural water.[4] The company's annual sales reached more than 2 billion yen a year before it too went bankrupt in 1978. Nami was arrested in September 1978 by Mie Prefectural police on suspicion of fraud, and was sentenced to prison.[3][4]

PHC

Before his arrest in 1978, Nami also established PHC, a company selling pressure cookers.[4]

L&G and "Enten"

After being released from prison, Nami established the Tokyo-based bedding company L&G in August 1987. The company allegedly derived its income from a pyramid scheme.[3] At L&G, he invented the "Enten" quasi-currency (literally meaning Divine Money in Japanese). In February 2007, L&G dividends were distributed in Enten, rather than in cash, resulting in lawsuits and cancellations of accounts.[5] In October 2007, police searched L&Gs headquarters in Tokyo, suspecting that the company had violated investment laws, and the company declared bankruptcy in November 2007.[5] Nami was arrested in Tokyo on 4 February 2009 on suspicion of large-scale investor fraud along with twenty-one of his associates.[1] He insists that he is innocent, and is the victim and not the villain.[2]

References

External links


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Kazutsugi Nami — (波和二, Nami Kazutsugi), né le 19 mai 1933 dans la préfecture de Mie, est un homme d affaires japonais et président de la société Ladies Gentlemen (L G), société de literie basée à Tokyo. Il a été arrêté le 4 février 2009 sur la suspicion …   Wikipédia en Français

  • Nami — (Arabic: نامي‎) may refer to: Contents 1 Given name 2 Surname 3 Fictional characters 4 Other uses …   Wikipedia

  • Escándalo del Enten — Saltar a navegación, búsqueda El escándalo del Enten fue un fraude revelado el 5 de febrero de 2009, cuando Kazutsugi Nami (波和二, Nami Kazutsugi?) presidente de la empresa de futones Ladies Gentlemen (L G) fue arrestado por la policía japonesa.… …   Wikipedia Español

  • Chaîne de Ponzi — Une chaîne de Ponzi est un circuit financier frauduleux qui consiste à rémunérer les investissements effectués par les clients, au moyen essentiellement des fonds procurés par les nouveaux entrants, le système étant découvert et s écroulant quand …   Wikipédia en Français

  • Chrysler — This article is about Chrysler Group LLC. For the flagship car division of Chrysler Group, LLC, see Chrysler (division). For other uses, see Chrysler (disambiguation). Chrysler Group LLC Type Limited liability company …   Wikipedia

  • General Motors — Company Type Public Traded as NYSE: GM TSX:  …   Wikipedia

  • Nortel — Networks Corporation Type Public OTC Markets Group: NRTLQ Industry Telecommunications …   Wikipedia

  • Citigroup — Not to be confused with CIT Group, another large financial services company. Citigroup Inc. Type Public Traded as NYSE:  …   Wikipedia

  • Merrill Lynch — This article is about Merrill Lynch as an independent company prior to its January 2009 acquisition by Bank of America and its continuing existence as the wealth management division of Bank of America. For the corporate and investment banking… …   Wikipedia

  • Mervyns — LLC Former type Private Industry Retail Fate Bankruptcy ; Former buildings rebranded as Kohl s or Forever 21 Founded …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”