Society

Bankrupt kimono rental firm chief arrested

Jun 24 (NHK) - Police have arrested the president of a bankrupt rental kimono firm for allegedly swindling hundreds of thousands of dollars in bank loans.

The firm suddenly closed its shops before this year's coming-of-age day, leaving many young women without formal attire to wear for the ceremonies.

55-year-old president of the Yokohama-based Harenohi, Yoichiro Shinozaki, is suspected of having borrowed the money from a bank by submitting a false financial report in 2016.

Police took Shinozaki, who arrived at Narita Airport on Saturday from the United States, to the Kanagawa prefectural police department.

Harenohi's bankruptcy trustee says the company has almost no assets, and its liabilities reached about 10 million dollars.

Source: ANNnewsCH

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