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Two Arrested For Otsuka Pharma Prelisted Shares Fraud

This article was originally published in PharmAsia News

Executive Summary

Police arrested two self-described consultants for making false statements about Otsuka Pharma, for holding the company's IPO and profiting from selling pre-listed stocks. According to the investigation, the two suspects, who live in Shibuya-ku and Fuchu City, Tokyo, started the fraud in April 2005. They sent direct mail to target wealthy people nationwide. Inside the letter, they stated that the company's shares would go public by August 2006, and at that pint the share price would double



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