President Asakawa responds in the House of Councillors
Questioning of witnesses on the disappearance of pensions
April 3, 2012, Tokyo, Japan - Kazuhiko Asakawa, president of AIJ Investment Advisors Co. appears before a Diet upper house financial committee meeting Kazuhiko Asakawa, president of AIJ Investment Advisors Co. appears before a Diet upper house financial committee meeting probing into the pension fund scam in Tokyo on Tuesday, April 3, 2012.
Asakawa was reported to have concealed trading losses and fabricated reports on the assets managed to attract pension funds. AIJ oversaw 145.8 billion yen of clients' money and lost 109.2 billion yen from derivatives trades directed by Asakawa over nine years, according to the media reports . (Photo by Natsuki Sakai/AFLO) AYF -mis-