Japanese financial firm
The
A third-party panel established by the parent firm concluded last month, however, the subsidiary used false or misleading information in seeking funds for 39 loan contracts taken out by companies.
SBI's parent company said it had already stopped soliciting new funds in March and will ensure investors impacted by the illegal practices will receive the money they invested back in full.
Loans involving investors who were not impacted by the company's illegal actions will see their contracts honored and they will be overseen in the future by SBI's asset management department.
Earlier this month, it was reported the
==Kyodo
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