ROANOKE TIMES
Copyright (c) 1995, Roanoke Times
DATE: Thursday, December 28, 1995 TAG: 9512290019
SECTION: BUSINESS PAGE: B-10 EDITION: METRO
DATELINE: NEW YORK (AP)
SOURCE: Associated Press Writer|
A former general manager of Daiwa Bank Ltd.'s New York branch was indicted by a federal grand jury Wednesday on charges he conspired to hide a $1.1 billion loss stemming from a worker's unauthorized trades.
Masahiro Tsuda was charged by the U.S. Attorney for the Southern District of New York with attempting to defraud the Federal Reserve Board by concealing the losses incurred by Toshihide Iguchi, a former Daiwa trader in New York.
Tsuda, who oversaw Daiwa's New York branch, was arrested in November following Iguchi's arrest in September. Both were charged by the FBI in a scandal that led to criminal charges against the bank and a shutdown of its U.S. subsidiary.
Tsuda, free on a half million dollars bond secured by $100,000 cash, will be arraigned on the indictment on Jan. 4.
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