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Biggest-ever fund scandal may eclipse Miyazawa’s fate

Japanese transport giant gave 100b yen to 200 MPs for help ?
TOKYO, Jan 22 : A new Japanese political scandal, possibly the biggest ever tn terms of money and number of people involved. Is likely to rock Japan, dealing a serious blow to Prime Minister Ktlchl Miyazawa, press reports say. according to AFP.
The latest edition of the weekly Asahi Journal said some 100 billion yen (813 million dollars) in dubious funds were believed to have been funnelled to more than 200 ruling and opposition party legislators by a transport company.
The sum Included 10 billion yen (81.3 million dollar) to the top leaders of three major factions in the ruling Liberal-Democratic Party, said the weekly published by the nationally-circulated Ashahl Shimbun newspaper.
Authorities were reported to be planning a probe Into the
shady connections between politicians and the Sagawa Kyubtn Group, whose business started to expand rapidly some 15 years ago
The weekly quoted industry sources as saying that the transport giant needed help from politicians to absorb other transport firms
Hlroyasu Watanabe, former President of Tokyo Sagawa Kyubin Co. Ltd, the main com-Cny In the group, reportedly
I ped Noboru Takeshita to become Prime Minister tn 1987 tn exchange for such as statancc.
The Asahi Journal also said that ruling and opposition party lawmakers often visited the company's Chairman Kiyoshi Sagawa to seek financial help. He reportedly had close connections with former Prime Minister Kakuel Tanaka who was arrested tn 1976 for
his alleged role in the Lockheed payoff scandal.
Tokyo Sagawa has since sued its former president and other executives for providing unauthorized loan guarantees of some 490 bdlion yen (four billion dollar) to 40 companies and an unidentified Individual.
Companies affiliated with the Inagawa-Kal crime syndicate have meanwhile reportedly received at least 105.8 billion yen (860 million dollar) In koans from the former management of Tokyo Sagawa.
Susumu Ishii, the late leader of the underworld group, has already been named in parliament for using ques tionablc loans from leading securities firms to speculate in a railway company's stock and golf resort developments.
Analysts said that the Sagawa Kyubin case could develop Into a huge scandal, deal-
Ing another serious blow to Miyazawa who has failed to clear an allegation that he made a huge instant profit through trading in unlisted stocks In 1986.
Slocks of Recruit Cosmos Co offered to Miyazawa at low prices by Its parent firm. Recruit Co. a Tokyo-based employment Information giant, rose sharply Immediately after they were listed in late 1986.
The subsequent scandal led to his resignation as Finance Minister in 1988 and the downfall of the entire Takeshita government in 1989.
Fumio Abe, a former cabinet minister and close aide of Miyazawa, was arrested last week for allegedly taking 80 million yen (650,000 dollar) in bribes from Kyowa Co. Ltd. a steel frame maker In Tokyo.