Ex-Nova President Sahashi arrested on embezzlement charges
June 24, 2008
By Ken Worsley
Asahi is reporting that former Nova President Nozomu Sahashi has been arrested on charges of embezzlement, after having initially been brought in for voluntary questioning on Tuesday morning.
Since this arrest was so predictable, so obviously in the making for such a long time (and possibly only the tip of the iceberg), it can’t be good PR for the firm that decided to buy the rights to Nova’s name - and it doesn’t look like the negative PR is going to stop anytime soon. The decision to keep the firm’s muck-dragged name and not go through some sort of re-branding strategy baffles the mind.
As letsjapan.org is following these events in more detail, we recommend anyone following the case to head over there to read up.
HT to Shawn at letsjapan.org and JEN reader trev.
Filed Under Business, White Collar Crime
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Related Posts:
Friday the 14th: Will NOVA Pay?
Mainichi: Saruhashi dumped his Nova shares by September 30; Nishida: I arranged the Nova equity warrant sale; Saruhashi: I’ve never heard of Nishida
Former Nova CEO Saruhashi on why Nova went under: Bad quality instructors and the broken reservation system
And then there was one: Two more potential Nova buyers say no
The Emperor’s Old Clothes: Former Nova President Saruhashi’s office/digs on the evening news
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The charges look flimsy here. He’ll get some slap on the wrist at best. They should sentence him to get a business education.