Prosecutors Wednesday demanded a seven-year prison term, a 30 million yen fine and 5.1 billion yen in forfeiture for a gangster known as the "loan-shark king."
Susumu Kajiyama, 55, is charged with laundering money in 2003 at overseas financial institutions with profits made from loans set at illegally high interest rates in Japan.
The prosecutors demanded the punishments for Kajiyama during their closing arguments at the Tokyo District Court. Kajiyama had earlier pleaded guilty earlier to all 14 charges against him, including money-laundering and violations of the investment law, which sets a ceiling on interest rates.