nova

The luxury “office” that former Nova president Nozomu Sahashi claimed was actually a showroom is no more.

Part 3 of the FujiSankei Business i's series on the rise and fall of Sahashi.

Part 2 of FujiSankei Business i's series on the rise and fall of Sahashi describes his foray into banking.

The FujiSankei Business i recently ran a three-part series on the rise and fall of Sahashi. This will be a rehash of events for most readers, but the series drives home the point that Sahashi's hubris brought the company down. Here's Part 1.

Tack on nonpayment of wages to Sahashi's charge of embezzlement.

It's one more step along the path to a jail cell. for taking money from NOVA's Shayuukai fund:

More grist for the mill as the newspapers reveal that Sahashi pilfered the employee's welfare fund when he realized he wasn't able to pay out refunds.

Here we go. With Sahashi arrested and being questioned, the details behind NOVA's meltdown are starting to trickle out.

Eight months after the collapse of NOVA, Sahashi was finally taken into custody this morning by the police for "voluntary" questioning over his alleged embezzlement of an employee's fund. The police are expected to arrest him.

The Yomiuri reported earlier this month about allegations of Sahashi using an employee's fund for his own purposes. It looks like the police have enough evidence to launch a criminal investigation into the embezzlement of those funds. Here's the story from the Asahi Shimbun: