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Ex-fishermens' Association boss in hot water over loanDate Posted: 1998-02-14 According to police, Manabu Shimosato, 42, was arrested after investigation revealed that he used his name as the former director of the Fishermen's Association, and the association funds to obtain a loan for his personal use. The police say Shimosato first used a 3 million Yen time deposit on the association's account as a collateral for a personal loan of 2.4 million Yen. After receiving the loan, he canceled the time deposit, withdrew the money, and paid back his personal loan pocketing the difference. |
   
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