Sarakin King Yasuo Takei Cashes Out

[Mulboyne]

[floatr][/floatr]The Age: Japan's richest man, Yasuo Takei, dies
Japan's richest man, Yasuo Takei, who rose to fame as founder of consumer credit company Takefuji Corp. but retired in shame after a wiretapping scandal, has died, a company spokesman said Friday...Takei, 76, was listed as Japan's richest man, along with his family, in this year's Forbes magazine listing of the world's billionaires, with assets of US$5.4 billion. But Takei's reputation was tarnished in 2004 by his conviction on charges of ordering the wiretapping of a journalist who had written articles criticizing his company...Takei was sentenced to three years in prison, suspended for four years...more...

[IkemenTommy]

That dude will be denied from entering heaven.

[Mulboyne]

Kyodo via Crisscross: Takefuji appoints Canadian woman as head of PR

Major consumer loan firm Takefuji Corp has installed Canadian Christine Lavoie-Gagnon as head of its public relations section to capitalize on her international PR experience, company officials said Monday. Lavoie-Gagnon, 33, joined Takefuji on Friday and will lead its PR activities amid the difficult business environment surrounding consumer loan companies, such as lawsuits filed by clients seeking the return of excessive interest. Fluent in English, French and Japanese, Lavoiegagnon has previously headed French automaker Renault S.A.'s PR activities in the Asian and Pacific market.

[Greji]

That dude will be denied from entering heaven.

They can't keep him out, not until until St. Peter's sarakin is paid off! He used the pearl on the Pearly Gates as collateral.

[IkemenTommy]

They can't keep him out, not until until St. Peter's sarakin is paid off! He used the pearl on the Pearly Gates as collateral.

These guys had their days living off the poor souls. Let them rot in hell.

[Captain Japan]

Ex-collector's debt of guilt
Daily Gomiuri

Seiji Tanaka (not his real name), 29, feels a choking pain in his chest whenever he recalls his previous career as a "cold-blooded" debt collector. He worked for a major consumer loan company for 4-1/2 years until March, when second thoughts about his occupation led him not only to quit his job but also to become a volunteer counselor to heavy debtors. With his experience and legal knowledge, he is well placed to offer advice.

Tanaka entered one of the nation's major consumer credit companies in 2001 and worked for about three years at its debt collecting center in Kanagawa Prefecture.

"I belonged to one of three teams, each of which comprised 10 staff members. Our job was to relentlessly call people who had failed to make repayments for more than three months," he said in a recent interview with The Daily Yomiuri.

Most of his "clients" were heavily indebted to more than five companies, but this did not matter to Tanaka. For years he never questioned his duties, thinking it only common sense that debtors should repay money they owed no matter how high the interest rate--after all, it was their own decision to accept these conditions, he surmised. Debt collecting became just a game for Tanaka and his coworkers who would compete against one another in teams, he said....more...

When the usual annual stats come out saying that the average slug American is in debt on his credit card some massive amount compared to the average Japanese saint, do those numbers (for the Japanese) take into account sarakin debt?

I wonder about this because during the time when I installed sarakin booths I realized the borrower is simply receiving an ATM card with a specified limit - it is basically a credit card. The only real difference is that you apply for it at one of those booths you see around stations on the phone. You are then issued from the machine (after about a 30-minute conversation) a card that allows you to get cash from an ATM.

[Captain Japan]

25 percent of deceased consumer credit borrowers committed suicide
Mainichi

One in four deceased borrowers from five major consumer credit companies committed suicide, the government regulator of the industry said.

The Financial Services Agency (FSA) investigated the causes of the deaths of borrowers from major consumer credit companies following revelations that Promise Co. falsely reported data on life insurance policies it took out on all of its borrowers.

The results have shown that 25.5 percent of debtors with the five firms, whose causes of deaths are known, took their own lives.

The figure for Promise came to 26.9 percent, more than the twice the figure it had earlier reported to the FSA....more...

[Pachipro]

I wonder if they hired young women to hand out packs of "Takefuji" tissues at his funeral!