OSAKA -- Police on Friday arrested seven executives of a failed local credit union chiefly serving the South Korean community, in connection with loans that the suspects allegedly knew would not be repaid.
Investigators, suspecting breach of trust, had been questioning the seven, including former Kansai Kogin Chairman Lee Hui Gon, 84, who has denied the charges.
Officers also searched roughly 60 locations, including Lee's home in the city of Nara, and the credit union's head office in Osaka.