The legal woes of former NOVA president Nozomu Sahashi aren't about to let up. While a decision on his current trial is due to be handed down on August 26, the trustees overseeing NOVA's bankruptcy have sued him for aggravated breach of trust, seeking ¥2.1 billion (roughly $22.6 million USD) in damages over the sale of videophone units by Ginganet, a company in which Sahashi was the sole share holder, to NOVA.
The lawsuit claims that between 2004 and 2006 NOVA purchased 25,600 videophones it didn't need from Ginganet despite there being a sufficient number of videophones in stock for students to use for ocha no ma ryuugaku lessons. The trustees claim that Sahashi had personally guaranteed the debts of Ginganet and other NOVA affiliates, and that he diverted funds from NOVA by charging the company for unnecessary videophones in order to pay back the debts of the affiliates.
This lawsuit looks like it's out of the blue, but it appears to have roots in the aftermath of NOVA's collapse in 2007. Immediately after the collapse, the trustees charged that Sahashi fleeced NOVA by charging the company several times the list price for videophones. The trustees believed Sahashi was up to no good since it was suspicious that he would overcharge NOVA for the videophones when he was in control of both companies, and then later sell his stake in Ginganet. When the Shukan Diamond interviewed him, he flatly denied the accusation.
I think very few people believe Sahashi when he says he's sorry for what he's done and wants to make amends. This new lawsuit drives a stake through his credibility. Sahashi has long maintained that he was doing everything in his power to save NOVA and get students their refunds. Now we learn that years before NOVA started to implode, he was funneling money out of his companies in order to line his own pockets.