Tobashi scheme - Wikipedia, the free encyclopedia
A Tobashi scheme is a financial fraud where a clients losses are hidden by an ... Yamaichi executives resorted to such a tobashi scheme, setting up a separate ...
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Financial Crime Features Sept 2004 1
TOBASHI SCHEMES BACKFIRED ON JAPANESE BANKS. By Stephanie Ayres. September ... Tobashi referred to a scheme where investment firms would transfer investment ...
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Yamaichi Securities - Wikipedia, the free encyclopedia
The company announced it would cease operations on November 24, 1997 and was ... alleged his window-dressing Tobashi schemes and illegal dealings had undermined ...
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Japan's Rigged Casino - New York Times
This kind of scheme is only for privileged customers, but it is so well known in ... notice were it not for two facts: the scale of the tobashi scheme and its timing. ...
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Enter Keywords:
Feature: Tobashi Schemes Backfired on Japanese Banks. September 2004 ... DETROIT MORTGAGE FRAUDSTER SENTENCED FOR SCHEME THAT USED SHAM TITLE COMPANIES ...
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MJO's Web Site - Why Japan Needs Failure
Nissan Mutual Life Insurance, Ogawa Securities, Kyoto Kyoei Bank, Hokkaido ... This tobashi scheme gets bad news off the books for a short time, but requires ...
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phony encyclopedia topics | Reference.com
Encyclopedia topics for phony at Reference.com. phony ... Tobashi scheme, concealing financial losses. Tunneling (fraud) Vanity gallery. Vanity press ...
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Fraud - Wikipedia, the free encyclopedia
Charles Ponzi and the Ponzi scheme. ... Tobashi scheme, concealing financial losses. Tunneling (fraud) Vanity gallery. Vanity press ...
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fraud: Definition, Synonyms from Answers.com
fraud n. A deception deliberately practiced in order to secure ... Tobashi scheme, concealing financial losses. Tunneling (fraud) Vanity gallery. Vanity press ...
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fraud encyclopedia topics | Reference.com
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A Tobashi scheme is a financial fraud where a clients losses are hidden by an investment firm by shifting them between the portfolios of other (genuine or fake) clients. Any real client with portfolio losses can therefore have their accounts flattered by this process. This cycling cannot continue indefinitely and so the investment firm itself ends up picking up the cost. As it is ultimately expensive there must be a strong incentive for the investment firm to pursue this activity on behalf of their clients.

In January 1992 Yamaichi executives resorted to such a tobashi scheme, setting up a separate company called Yamaichi Enterprise which opened an account at the Tokyo branch of Credit Suisse. Depositing ¥200 billion in Japanese government bonds, the Yamaichi subsidiary then used the dummy companies to generate profits for clients while eventually absorbing losses of ¥158.3 billion. A separate scheme using foreign currency Bond (finance) resulted in losses of ¥106.5 billion being hidden in Yamaichi's Australian subsidiary.

In August 1993, Japan's Ministry of Finance inspected 47 financial institutions for tobashi, all of whom denied the practice. In December the MoF asked for reports from all 289 brokers on tobashi activity.

Sources

• Euromoney Magazine