8 Worst Corporate Scandals in Japan

1. The Long-Term Credit Bank of Japan

$4 billion

LTCB was founded in 1952. It was one of the largest financiers of Japan’s postwar development. The bank faced problems with bad debts ($4 billion) during the nineties and hence it was nationalized in 1998. The president of the Long-Term Credit Bank was arrested and convinced to three years in prison and four years of probation, but the Supreme Court of Japan confirmed that Katsunobu Onogi used an old rules of accounting and the convictions for him and other two executives were overturned. This was the biggest scandal of all 8 worst corporate scandals in Japan.

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