Four people including the president of the company were arrested on suspicion of violating the Investment Law for making a high payment with a credit card under the guise of buying and selling Power Stones and lending money at a high interest rate in a way to refund a part. The Tokyo Metropolitan Police Department is investigating that it lent more than 4.3 billion yen to more than 106,26 people nationwide and earned illegal interest of more than <>.<> billion yen.
Four people were arrested, including Ken Sakai, a 43-year-old company president who lives in Kawaguchi City, Saitama Prefecture.
According to the Tokyo Metropolitan Police Department Reiwa between March 4 and October, five people, including a man in Tokyo, were suspected of violating the Investment Law by lending five people in Tokyo at a high interest rate of 2 to 3 times the upper limit stipulated by law, and earning a total of more than 10.5 million yen in illegal interest.
The presidents had them purchase the stones called "Power Stone" with a total of more than 16.51 million yen with their credit cards, and then transferred a total of more than 136.578 million yen to the accounts of men and others under the pretext of "cashback".
When the Metropolitan Police Department appraised the stone, it was found that it seemed to be worth only more than 438,3 yen, and it was judged that it was an illegal loan because there was no actual state of sale.
One of the loan recipients was struggling to make ends meet due to the effects of the new coronavirus and borrowed money to pay for the treatment of a family member's illness.
In response to the investigation, the president admitted to the charges, and the other three denied the charges or kept silent.
The Tokyo Metropolitan Police Department is investigating that it has lent more than 1.3 billion yen to more than 6,3 people nationwide and earned more than 106.26 billion yen in illegal interest in the six years up to last year.