This article is the final part of rough translation of the report by Hirofumi Ito, published on a web media called “Gendai Business,” on July 3, 2014. (http://gendai.ismedia.jp/articles/print/39737)
Background of Continuous Frauds with Forged Documents: Next Target will be Solar Power?
Let’s see another example that indicates anything can be “merchandise” in forgery.
On June 24, 2000, Community Economy Division of MDP arrested cigarette counterfeit group. They were charged for counterfeiting 2 brands of cigarette including “Seven Stars,” in Tokyo and 6 neighboring prefectures. These brands were exclusively made by Japan Tobacco Inc. One of the main suspects was, the Setagaya case’s suspect, Sasai.
A broker who married with Chinese wife utilized her network to China and produced counterfeit cigarette in Fujian, China. Then the broker imported the cigarette from Yokohama port and delivered to Sasai. Sasai, who managed a real estate company called “Yazaki Sangyo” at that time, distributed the cigarette.
Forgery group, fraudsters and land racketeers still active. It is worthy to note that these criminals are increasingly aging. Main culprit in the case was his 50’s 10 years ago and he, now his 60’s, is still involved in crime today.
There was organized crime group (Boryoku-dan) behind the land racketeer case and the LED case. They are also behind the solar power case which will be charged by the authority soon. Boryoku-dan is always behind fraudsters. Forgery group is not an exception. If fraudsters were arrested with Boryoku-dan member, their career will end as the news (relationship with organized crime) will remain on the web and be searched almost permanently.
Since the introduction of the anti-organized crime code, pressure to shut out Boryoku-dan is getting stronger. People “who has the (criminal) records” are forced to do business in which they know the ropes. So they tend to commit fraud exploiting forged documents and certificates again.
The business domain for Boryoku-dan and other anti-social groups are shrinking due to the anti-organized crime code. It is inevitable that they will continue to commit fraud with other “merchandise.”
2014年7月21日月曜日
Three Reasons This is a Good Time to Be an Investor: 投資家にとっていい時代になったと思う3つの理由
題名の通りの記事が週末のwsjに出ていたので要約
みんなアルゴにやられたとか機関じゃなきゃ勝てないとかいろいろ不平を言っているけど、多分マーケットの状況は昔よりもよくなっているんだと思う。日本でも。
投資家にとっての環境がよくなった3つの点とは：
1．選択肢の増加
選択肢の増加は2つの出来事のおかげだ。
一つ目は1993年に登場したS&P500を対象としたETF、いわゆるSPDRの誕生である。その後あらゆる種類のETFが登場し、2013年末までにETFが1,332本に増加したおかげで、投資家はポートフォリオの微調整がしやすくなった。大型、中型、小型など規模別投資を低コストで行えるようになったほか、産業別、国別の投資も手軽になった。さらには金などのオルタナティブ投資も一般投資家にとって身近なものになった。
もう一つの出来事とは1997年のインフレ連動国債の登場である。政府保証付きで消費者物価に連動する債券（Treasury Inflation-Protected Securities=TIPS）はおそらく、長期的にもっとも安全な投資対象だ。現在10年物のTIPSの利回りはインフレ率+0.3%と低いが、保有資産の購買力を下げたくない年金生活者らにとってTIPSは万能薬になるだろう。
2．コストの低下
投資家がアクティブファンドからインデックスファンドやETFへ資産を移したことにより取引コストは著しく低下した。2003年に株式ファンドの投資家は保有資産の1%の経費を払っていたが、2013年に経費は0.73%まで低下した。
個別株の取引きコストについては、ブローカーがリベートの多い取引所へ注文を誘導しているという批判はあるが、1980年代の数分の1に低下している。それだけではなく売買のスプレッドも著しく低下した。
投資にかかる費用のうち最大のものが、取引費用ではなく税金になることがままある。
しかし、過去20年間に状況は著しく改善した。1997年に長期キャピタルゲイン税率が28%から20%へと切下げられたのちも、2003年に15%へと再び引き下げられた。
（注：3つ目の情報量の増加については元の記事にも詳細な解説なし）
みんなアルゴにやられたとか機関じゃなきゃ勝てないとかいろいろ不平を言っているけど、多分マーケットの状況は昔よりもよくなっているんだと思う。日本でも。
投資家にとっての環境がよくなった3つの点とは：
- 投資の選択肢の増加
- 投資コストと税金の低下
- 情報量の増加
1．選択肢の増加
選択肢の増加は2つの出来事のおかげだ。
一つ目は1993年に登場したS&P500を対象としたETF、いわゆるSPDRの誕生である。その後あらゆる種類のETFが登場し、2013年末までにETFが1,332本に増加したおかげで、投資家はポートフォリオの微調整がしやすくなった。大型、中型、小型など規模別投資を低コストで行えるようになったほか、産業別、国別の投資も手軽になった。さらには金などのオルタナティブ投資も一般投資家にとって身近なものになった。
もう一つの出来事とは1997年のインフレ連動国債の登場である。政府保証付きで消費者物価に連動する債券（Treasury Inflation-Protected Securities=TIPS）はおそらく、長期的にもっとも安全な投資対象だ。現在10年物のTIPSの利回りはインフレ率+0.3%と低いが、保有資産の購買力を下げたくない年金生活者らにとってTIPSは万能薬になるだろう。
2．コストの低下
投資家がアクティブファンドからインデックスファンドやETFへ資産を移したことにより取引コストは著しく低下した。2003年に株式ファンドの投資家は保有資産の1%の経費を払っていたが、2013年に経費は0.73%まで低下した。
個別株の取引きコストについては、ブローカーがリベートの多い取引所へ注文を誘導しているという批判はあるが、1980年代の数分の1に低下している。それだけではなく売買のスプレッドも著しく低下した。
投資にかかる費用のうち最大のものが、取引費用ではなく税金になることがままある。
しかし、過去20年間に状況は著しく改善した。1997年に長期キャピタルゲイン税率が28%から20%へと切下げられたのちも、2003年に15%へと再び引き下げられた。
（注：3つ目の情報量の増加については元の記事にも詳細な解説なし）
2014年7月18日金曜日
Activity of Anti-Social, Forgery Artists Appear in Many Fraud Cases (3/4)
This article is the 3rd part of rough translation of the report by Hirofumi Ito, published on a web media called “Gendai Business,” on July 3, 2014. (http://gendai.ismedia.jp/articles/print/39737)
Their Sophisticated Forged Documents deceivedconceived more than 10 Professionals
The Setagaya case’s target land in Seijo, one of the luxurious residential districts in Tokyo, is a prime real estate which is appraised about JPY 100 million (USD 1 million). At first, a real estate company loaned JPY 80 million (USD 800 thousand) against the land. Then the land was purchased by the Jasdaq-listed real estate company and should have been sold to a residential brokerage company.
By then, four months had passed since the first loan application to the real estate company was submitted. More than 10 professionals including judicial scrivener, real-estate appraiser, land and building inspector, banker who will loan to the land and real estate brokers for seller and buyer had been involved in a series of deals. However, no one could detect the forgery documents. On top of that the Ministry of Justice, in this case, Tokyo Legal Affairs Bureau Setagaya Branch could not recognize false application and approved registration of the land transaction.
The forgery is too sophisticated to detect. One victim grieved.
“The ‘land owner’ stood in front of me with his driver’s license. He provided me his certificate of residence, the real estate deed and the seal registration certificate. These documents carry various anti-forgery measures municipality by municipality. I admit I was careless for I did not to double check his identity information. However the government also should share the responsibility for issuing forgery-prone documents and approving false transaction.”
But he can do nothing as of now. And this case is exceptionally successful as the authority arrested not only perpetrator but also 5 members of land racketeer group behind him. It is not usually happen. Fraud members behind perpetrator usually claim “we are also deceived,” and successfully escape charge. As behind the scene member claims he is a victim, he must behave he never knows who forged the documents. Therefore it is very rare the authority arrests documents forger. As a result, these forgery groups can maintain themselves untouched.
Their Sophisticated Forged Documents deceived
The Setagaya case’s target land in Seijo, one of the luxurious residential districts in Tokyo, is a prime real estate which is appraised about JPY 100 million (USD 1 million). At first, a real estate company loaned JPY 80 million (USD 800 thousand) against the land. Then the land was purchased by the Jasdaq-listed real estate company and should have been sold to a residential brokerage company.
By then, four months had passed since the first loan application to the real estate company was submitted. More than 10 professionals including judicial scrivener, real-estate appraiser, land and building inspector, banker who will loan to the land and real estate brokers for seller and buyer had been involved in a series of deals. However, no one could detect the forgery documents. On top of that the Ministry of Justice, in this case, Tokyo Legal Affairs Bureau Setagaya Branch could not recognize false application and approved registration of the land transaction.
The forgery is too sophisticated to detect. One victim grieved.
“The ‘land owner’ stood in front of me with his driver’s license. He provided me his certificate of residence, the real estate deed and the seal registration certificate. These documents carry various anti-forgery measures municipality by municipality. I admit I was careless for I did not to double check his identity information. However the government also should share the responsibility for issuing forgery-prone documents and approving false transaction.”
But he can do nothing as of now. And this case is exceptionally successful as the authority arrested not only perpetrator but also 5 members of land racketeer group behind him. It is not usually happen. Fraud members behind perpetrator usually claim “we are also deceived,” and successfully escape charge. As behind the scene member claims he is a victim, he must behave he never knows who forged the documents. Therefore it is very rare the authority arrests documents forger. As a result, these forgery groups can maintain themselves untouched.
2014年7月15日火曜日
Activity of Anti-Social, Forgery Artists Appear in Many Fraud Cases (2/4)
This article is the 2nd part of rough translation of the report by Hirofumi Ito, published on a web media called “Gendai Business,” on July 3, 2014. (http://gendai.ismedia.jp/articles/print/39737)
Fraudsters Repeat Fraud with Various “Merchandise”
The 2nd Criminal Investigation Division investigated land racketeer groups and arrested about 30 members in 2002 and 2003.
On February 6, 2003, Mainichi reported on the case under the heading of “Five land racketeer group worked behind the scene. Even organized crime group involved.” The leading Japanese newspaper reported that there were racketeer groups called “Shinjuku Group,” “Ikebukuro Group,” “Sobu-line Group” The article also named Etsuji Tsuda with Shinjuku Group and Toshihisa Takahashi with Sob-line Group as mastermind who managed racketeer groups.
Tsuda and Takahashi were arrested in the LED case this year again. Tsuda was arrested on January 6 as a main suspect and Takahashi was arrested 5 months later. Morita, who was arrested at the same time as Takahashi, was ex-executive of LED developing company owned by Tsuda. Morita had been involved in pre-listed share fraud in Nagoya.
Morita was the perpetrator of the LED fraud and he had been facing civil litigation before the criminal investigation started. To cope with the accusation from Dentsu, Morita provided his deposition to explain “I did not to make fictitious order at the beginning. But (the clients’) cancellation forced me to forge order documents and seals,” and recognized hid wrongdoing.
The bottom line is, all cases are crime done by habitual offenders exploiting false documents and certificates. The only difference is the “merchandise”, such as real estate, LED, solar power device. On top of that, their forgery skill is so sophisticated that even the authority cannot tell the difference.
Fraudsters Repeat Fraud with Various “Merchandise”
The 2nd Criminal Investigation Division investigated land racketeer groups and arrested about 30 members in 2002 and 2003.
On February 6, 2003, Mainichi reported on the case under the heading of “Five land racketeer group worked behind the scene. Even organized crime group involved.” The leading Japanese newspaper reported that there were racketeer groups called “Shinjuku Group,” “Ikebukuro Group,” “Sobu-line Group” The article also named Etsuji Tsuda with Shinjuku Group and Toshihisa Takahashi with Sob-line Group as mastermind who managed racketeer groups.
Tsuda and Takahashi were arrested in the LED case this year again. Tsuda was arrested on January 6 as a main suspect and Takahashi was arrested 5 months later. Morita, who was arrested at the same time as Takahashi, was ex-executive of LED developing company owned by Tsuda. Morita had been involved in pre-listed share fraud in Nagoya.
Morita was the perpetrator of the LED fraud and he had been facing civil litigation before the criminal investigation started. To cope with the accusation from Dentsu, Morita provided his deposition to explain “I did not to make fictitious order at the beginning. But (the clients’) cancellation forced me to forge order documents and seals,” and recognized hid wrongdoing.
The bottom line is, all cases are crime done by habitual offenders exploiting false documents and certificates. The only difference is the “merchandise”, such as real estate, LED, solar power device. On top of that, their forgery skill is so sophisticated that even the authority cannot tell the difference.
2014年7月11日金曜日
Activity of Anti-Social, Forgery Artists Appear in Many Fraud Cases (1/4)
This article is the 1st part of rough translation of the report by Hirofumi Ito, published on a web media called “Gendai Business,” on July 3, 2014. (http://gendai.ismedia.jp/articles/print/39737) Ito is one of leading journalists who cover organized crime in Japan.
2nd Criminal Investigation Division of Tokyo Metropolitan Police Department (MPD), the division specializes in investigation on white color crime, has arrested 5 suspects including Toshiyuki Someya and Fumio Sasai. The charge is that they cheated victim into false real estate deal by pretending to be real estate owner in Setagaya ward. The suspects are currently under interrogation by the division. At the same time, 4th Organized Crime Division of MPD, which specializes in investigation on large organized crime groups (a.k.a. Yakuza or Boryoku-dan), had continued investigation on another case in which a major ad company called Dentsu was defrauded in LED trading. The 4th Organized Crime Division finally arrested 6 suspects including Toshio Morita and Toshihisa Takahashi on June 24.
Fraudsters who made the Most of Forgery Documents
Criminals who forge various documents including driver’s license, deed to property, certificate of seal and other documents are called “Jimen-shi” (“地面師” means land racketeer.) The suspects arrested in the Setagaya case is the typical example. On the other hand LED case is a fraud in that suspects persuaded Dentsu representative into their LED trading ring and ripped off advance deposit. Setting of the two frauds seem different.
However, there are forgery artists who fabricate ID documents or deeds in both cases. The land racketeers and the LED fraudsters are also forgery artists. Although little case is detected by authorities, boom of clean energy is provoking forgery of the permission documents on solar power generation device issued by Ministry of Economy, Trade and Industry, Japan’s economic planning ministry. Many brokers pitch such clean energy “investments.”
Therefore, same suspects are arrested in several different cases.
14 suspects have been arrested in the LED case as of now. Among them are two well-known big players in the land racketeer community.
2nd Criminal Investigation Division of Tokyo Metropolitan Police Department (MPD), the division specializes in investigation on white color crime, has arrested 5 suspects including Toshiyuki Someya and Fumio Sasai. The charge is that they cheated victim into false real estate deal by pretending to be real estate owner in Setagaya ward. The suspects are currently under interrogation by the division. At the same time, 4th Organized Crime Division of MPD, which specializes in investigation on large organized crime groups (a.k.a. Yakuza or Boryoku-dan), had continued investigation on another case in which a major ad company called Dentsu was defrauded in LED trading. The 4th Organized Crime Division finally arrested 6 suspects including Toshio Morita and Toshihisa Takahashi on June 24.
Fraudsters who made the Most of Forgery Documents
Criminals who forge various documents including driver’s license, deed to property, certificate of seal and other documents are called “Jimen-shi” (“地面師” means land racketeer.) The suspects arrested in the Setagaya case is the typical example. On the other hand LED case is a fraud in that suspects persuaded Dentsu representative into their LED trading ring and ripped off advance deposit. Setting of the two frauds seem different.
However, there are forgery artists who fabricate ID documents or deeds in both cases. The land racketeers and the LED fraudsters are also forgery artists. Although little case is detected by authorities, boom of clean energy is provoking forgery of the permission documents on solar power generation device issued by Ministry of Economy, Trade and Industry, Japan’s economic planning ministry. Many brokers pitch such clean energy “investments.”
Therefore, same suspects are arrested in several different cases.
14 suspects have been arrested in the LED case as of now. Among them are two well-known big players in the land racketeer community.
2014年7月9日水曜日
Brief Explanation for "B Account" or "B Bill" or "B勘定"
"B勘定" ("B bill" or "B account") is a Japanese term that applied to a type of tax evasion means.
Companies which try to reduce income tax payments by any means, often sell goods to their accomplice customers at a discounted price. They report revenue based on discounted price and lower taxable income. However the accomplices refund the discounted amount to the companies in hard cash to avoid investigation by tax authority. The accomplices receive compensation for supporting tax evasion.
Historically, such irrationally discounted bills are called "B勘定" or "B bill" in contrast with official, genuine bills, "A勘定." The "B" is said to stand for "Black."
Today, the meanings of "B bill" expand to every bills and receipts which have forged face value and are used for tax evasion. "B bill" is usually issued by failed or inactive companies because it is hard to trace whereabouts of such companies and time consuming for tax authority to verify the validity of receipts.
Would-be tax evader companies use the documents to increase fictitious expense and reduce taxable income.
There are brokers who sell "B bill." They are called "B bill broker." They purchase blank bills and receipts and seal from failed companies and write fictitious bills or receipt upon request. Forged bills and receipts are traded from 5% to 20% of the face value.
Below are several sites that describe mechanism of "B bill."
Companies which try to reduce income tax payments by any means, often sell goods to their accomplice customers at a discounted price. They report revenue based on discounted price and lower taxable income. However the accomplices refund the discounted amount to the companies in hard cash to avoid investigation by tax authority. The accomplices receive compensation for supporting tax evasion.
Historically, such irrationally discounted bills are called "B勘定" or "B bill" in contrast with official, genuine bills, "A勘定." The "B" is said to stand for "Black."
Today, the meanings of "B bill" expand to every bills and receipts which have forged face value and are used for tax evasion. "B bill" is usually issued by failed or inactive companies because it is hard to trace whereabouts of such companies and time consuming for tax authority to verify the validity of receipts.
Would-be tax evader companies use the documents to increase fictitious expense and reduce taxable income.
There are brokers who sell "B bill." They are called "B bill broker." They purchase blank bills and receipts and seal from failed companies and write fictitious bills or receipt upon request. Forged bills and receipts are traded from 5% to 20% of the face value.
Below are several sites that describe mechanism of "B bill."
2014年7月4日金曜日
会社を見た目（ウェブサイト）だけで判断するのは良くないという話
Leucadia National Corporationという会社がニューヨークの520マジソン街にある。5番街のユニクロのすぐそばだ。
Wikipediaによれば食肉や鉱山、林業などのほかに不動産開発、林業などを子会社に持つ持ち株会社だ。一番大きな事業は2013年に買収した中堅？投資銀行のJefferis Groupだ。その他にはヘルスケア会社や資産運用会社も持っており、先週末には元SACのCOO(Solomon Kumin)が始めるヘッジファンドに資金提供することがニュースになっていた。
1970年のハーバードビジネススクールの卒業生二人、Ian CummingとJoseph Steinbergが経営している会社で、彼らが創業したわけではないが、会社を大きくしたのは彼らのようだ。
ハーバードMBAが場当たり的に会社を買って大きくした節操のない会社だなと思って、Leucadiaのサイトを見てみるとインターネットが普及し始めたころのホームページのような装い。
こういう会社はどこかで見たことがある。たしか何年か前に摘発された投資詐欺の会社がそうだった、とか考えていたらBerkshire Hathawayも同じようなやる気のないサイトだった。
今までLeucadiaのことは知らなかったけれど、アメリカではそれなりに存在感のある会社らしく、この記事ではウォーレン・バフェットやカール・アイカーンと並んでLeucadiaとその経営者（CumminとSteinberg）の名があげられている。
それによればLeucadiaの投資ルールは次の通り
Wikipediaによれば食肉や鉱山、林業などのほかに不動産開発、林業などを子会社に持つ持ち株会社だ。一番大きな事業は2013年に買収した中堅？投資銀行のJefferis Groupだ。その他にはヘルスケア会社や資産運用会社も持っており、先週末には元SACのCOO(Solomon Kumin)が始めるヘッジファンドに資金提供することがニュースになっていた。
1970年のハーバードビジネススクールの卒業生二人、Ian CummingとJoseph Steinbergが経営している会社で、彼らが創業したわけではないが、会社を大きくしたのは彼らのようだ。
ハーバードMBAが場当たり的に会社を買って大きくした節操のない会社だなと思って、Leucadiaのサイトを見てみるとインターネットが普及し始めたころのホームページのような装い。
こういう会社はどこかで見たことがある。たしか何年か前に摘発された投資詐欺の会社がそうだった、とか考えていたらBerkshire Hathawayも同じようなやる気のないサイトだった。
今までLeucadiaのことは知らなかったけれど、アメリカではそれなりに存在感のある会社らしく、この記事ではウォーレン・バフェットやカール・アイカーンと並んでLeucadiaとその経営者（CumminとSteinberg）の名があげられている。
それによればLeucadiaの投資ルールは次の通り
- どんなに市場が熱狂していても「払いすぎるな」
- 人々が欲しがり必要としている製品やサービスを提供する会社を買え。そしてそれをできるだけ安く高品質で提供しろ。コスト削減と品質向上に手抜きをしたりやめたりしてはいけない
- 繰越損失（NOL）により課税されない利益は課税される利益より価値がある。
- 勤勉と誠実さの見返りに従業員は能力給で報いろ
- 払いすぎるな！
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