ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, October 26, 1996 TAG: 9610280051
SECTION: BUSINESS PAGE: A-7 EDITION: METRO
DATELINE: NEW YORK
The former general manager of Daiwa Bank's New York branch was sentenced Friday to two months in jail and fined $100,000 for hiding $1.1 billion in losses from unauthorized bond trades.
Masahiro Tsuda, 55, was sentenced by U.S. District Judge Sidney Stein in a plea deal that includes a year of supervised release to be served in Japan. Tsuda must also continue to help the government's investigation.
Tsuda was one of two Daiwa employees charged in the attempt to conceal 12 years' worth of bond-trading losses from federal regulators before the Japanese bank revealed the cover-up last summer.
- Associated Press
LENGTH: Short : 24 linesby CNB