Word: recruit
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Dates: during 1980-1989
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...this? In Japan distributing stock before a firm goes public is not illegal; in fact, many newly formed companies routinely ask banks and other firms to purchase a portion of their unlisted stock before the public sale to prevent market volatility once it is trading. But prosecutors in the Recruit case intend to prove that the offers in many cases constituted bribes in exchange for anticipated political and business favors. If the prosecutors find evidence of a political quid pro quo, recipients could be charged with accepting bribes...
While Takeshita maintains that he did not profit from stock deals, he did finally acknowledge receiving from Recruit sizable gifts in other forms. The Prime Minister conceded that in 1986 and 1987 the company donated $259,000 to his political organizations. He also admitted that Recruit bought more than $570,000 worth of tickets to two fund-raisers held for him in Tokyo and Iwate prefecture in May 1987. Such contributions are not illegal, but these may have exceeded legal limits imposed after the Tanaka scandal...
Reforming the system could take a very long time. More immediately, Takeshita is eager just to get the Recruit scandal behind him. For one thing, the Diet's opposition forces are holding hostage the nation's budget, which should have been in place April 1. They refuse to debate it until the L.D.P. agrees to allow Nakasone to testify under oath about his role in the Recruit affair. For another, Takeshita must set a date for elections to the Diet's upper house by Aug. 13, and in the poisonous atmosphere created by Recruit, the L.D.P.'s chances of winning...
These practices do not necessarily violate Japanese law. But Recruit may have overstepped legal limits -- and certainly drew attention to the pervasive role of money in Japanese politics...
...vicious cult of witchcraft and murder is unearthed in Matamoros, Mexico, as police discover the remains of 13 victims, including the body of a missing American student. -- What's behind the Recruit scandal in Japan and why it may topple the government of Prime Minister Noboru Takeshita...