japanese guy lost 140 m at gambling

[pico]

http://www.bbc.co.uk/news/business-15834854

[pico]

Ex-boss jailed as losses pile up at casinos

Thursday, October 11, 2012

The disgraced ex-chief of Daio Paper has been sentenced to four years in jail after losing billion of yen in company money at casinos in Macau and Singapore.Mototaka Ikawa allegedly ordered subsidiary companies in the group founded by his grandfather to supply cash that financed his gambling and growing debts, a Tokyo court decided.
"He abused his controlling power," the judge said.
Ikawa, 48, took 5.5 billion yen (HK$544.45 million) from funds.
His lawyers immediately appealed against the sentence, even though prosecutors asked for a six-year term.
Ikawa said his gambling problems began after he initially won a casino jackpot, which followed heavy losses on currency deals and stock markets.

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Ikawa's arrest drew heavy scrutiny in the wake of camera and medical equipment maker Olympus admitting late late year that it had hidden years of investment losses, dealing a blow to Japan's corporate governance image.

[jjgold]

[senseionline]

140 millions for only 4 yrs good bargin

[Bluehorseshoe]

I don't believe it. Asians hate to gamble.

[RudyRuetigger]

i heard macau is the place to be