Three former executives of UFJ Bank were freed on bail Wednesday after being indicted Tuesday for blocking government inspections last year in violation of the Banking Law.
The three are former UFJ Bank Vice President Kazuyoshi Okazaki, 56, and former executives Sen Hayakawa, 55, and Masayuki Inaba, 51. They posted bail of 5 million yen to 10 million yen, according to judicial sources.
The three allegedly obstructed the Financial Services Agency's inspection in August last year by hiding financial documents on the bank's clients by moving papers to other rooms and transferring digital document data to computer servers in an abolished department, according to the indictment.