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<\/figure><\/div>\t\t\t\t\tIt is on another mediumMinna's Union Last Mile Labor Union<\/a>Here is a summary of the fact that Makoto Watanabe was sent to the prosecutors on suspicion of violating the Financial Instruments and Exchange Act, as well as the structured bond management of foreign stocks that caused it.<\/p>\n\n\n\n A document referral does not mean that no incident occurred. It means that the police investigated the criminal case and sent the evidence and case records to the prosecutor.<\/p>\n<\/blockquote>\n\n\n\n The article investigated the reality of structured bond management by Last One Mile Co., Ltd., which remained silent despite knowing that its representative director had been referred to prosecutors, along with Mr. Watanabe, Mr. Hiroshi Mako, and LG Asset Co., Ltd.<\/p>\n\n\n\n The Prosecutors Union has confirmed the facts regarding this case with the authorities and others, and has conducted interviews with relevant parties through its union members. Therefore, we are organizing the facts for the public interest.<\/p>\n\n\n\n With the statute of limitations for violations of the Financial Instruments and Exchange Act looming, the Fukuoka Chuo Police Station successfully investigated past fund transfers, communications on Telegram, the registration timing of the financial instruments intermediary, deposits into personal accounts, and the background of dividend and principal repayments, and referred Makoto Watanabe, Hiroshi Mako, and LG Asset Co., Ltd. to the Fukuoka District Public Prosecutors Office.<\/p>\n\n\n\n However, the conclusion reached by the Fukuoka District Public Prosecutors Office was \"insufficient evidence.\"<\/p>\n\n\n\n From April 15, 2026, when the formal indictment was filed, to June 12 of the same year, when the decision not to prosecute was made, was a mere 58 days.<\/p>\n\n\n\n The Fukuoka Central Police Station picked up a case on the verge of the statute of limitations, gathered difficult evidence, and sent three suspects to the prosecutors. The Fukuoka District Office received the case from them and concluded it in about two months, stating, \"This cannot be made into a guilty verdict.\"<\/p>\n\n\n\n And Mr. Watanabe is currently boasting to those around him, saying things like, \"It's a huge relief that it was right before the statute of limitations,\" \"It was a close call,\" \"I was lucky,\" and \"No matter how close it was to the statute of limitations, the prosecutors are just too incompetent.\"<\/p>\n\n\n\n The person Mr. Watanabe is laughing at is not just the Fukuoka Chuo Police Station, which sent his papers to the prosecutor.<\/p>\n\n\n\n The prosecutors were unable to prosecute the case gathered by the police and declared \"insufficient evidence\" themselves.<\/p>\n\n\n\n Of course, information that Mr. Watanabe would not be prosecuted was also leaked by district public prosecutors office insiders before the disposition decision was made, and our union came to know about it at an early stage.<\/p>\n\n\n\n The leaking of information from the prosecutors and the National Tax Agency, including the fact that Mr. Kanemoto's pre-arrest photograph was leaked to the press club, can be described as reaching an abnormal state.<\/p>\n\n\n\n According to the official records of the Fukuoka District Public Prosecutors Office confirmed by the Prosecutors' Union, this case has been assigned the following three case numbers:<\/p>\n\n\n\n These three cases are alleged Financial Instruments and Exchange Act violation cases corresponding to the three parties: Makoto Watanabe, Hiroshi Mako, and LG Asset Co., Ltd.<\/p>\n\n\n\n The disposition date is June 12, 2026, and the disposition classification is non-prosecution. The Fukuoka District Public Prosecutors Office cited \"insufficient evidence\" as the reason for the non-prosecution in all three cases.<\/p>\n\n\n\n The disposition was made by the Fukuoka District Public Prosecutors Office, and the prosecutor in charge was Prosecutor Akiyoshi Tsuji.<\/p>\n\n\n\n The important thing is that the three case numbers are not mere bureaucratic window dressing.<\/p>\n\n\n\n The fact that these were separated and assigned case numbers indicates that the police did not treat this merely as a financial dispute between a single investor and Mr. Watanabe, but rather organized the respective roles of the individual and the corporation as criminal cases.<\/p>\n\n\n\n The police progressed to the point of assigning case numbers to the three parties. It was the Fukuoka District Public Prosecutors Office that handled making it \"insufficiency of evidence\" for all three parties together.<\/p>\n\n\n\n At the heart of this matter is the structured bond investment tied to foreign equities, which was spearheaded by Mr. Makoto Watanabe.<\/p>\n\n\n\n Mr. Watanabe frequently promoted structured notes targeting foreign stocks in a Telegram group with a dozen or so affluent participants, and instructed Mr. Hiroshi Mako on investment management and participant support.<\/p>\n\n\n\n The basic conditions shown to the participants were as follows:<\/p>\n\n\n\n Hiroshi Mako is an individual who was introduced as one of the private secretaries to Watanabe, the Representative Director of Last One Mile Inc., and served as the Head of the Secretariat. He was explained to the participants as a former financial practitioner from Mizuho Securities.<\/p>\n\n\n\n Furthermore, Mr. Watanabe appointed Ms. Mako as the representative director of LG Asset Co., Ltd., and explained to the participants that the company was qualified to handle financial products.<\/p>\n\n\n\n However,List of registered financial instrument intermediaries published by the Financial Services Agency<\/a>According to it, LG Asset Co., Ltd. was registered under Fukuoka Local Finance Bureau Director (Kin-Naka) No. 123 on December 24, 2021.<\/p>\n\n\n\n The solicitation of investment, the receipt of 10 million yen and a 1.5 million yen deposit, and the management of funds had begun at least by March 2021.<\/p>\n\n\n\n In other words, it is about nine months before registration.<\/p>\n\n\n\n Article 29 of the Financial Instruments and Exchange Act: No person may engage in a financial instruments business unless registered by the Prime Minister.<\/p>\n<\/blockquote>\n\n\n\n Regulations of the Financial Instruments and Exchange Act indicated by the Securities and Exchange Surveillance Commission<\/a>Regarding those who conducted a financial instruments business without registration in violation of the same Article, Article 197-2 at the time of the act stipulated imprisonment for not more than 5 years, a fine of not more than 5 million yen, or both.<\/p>\n\n\n\n If financial products were solicited, funds were gathered, and investment direction was given prior to registration, the registration number obtained afterwards cannot retroactively legalize the past actions.<\/p>\n\n\n\n Because registration in December 2021 does not retroactively grant eligibility to March 2021.<\/p>\n\n\n\n Furthermore, at the time of the fund return, Mr. Watanabe instructed that it should not be treated as a return of investment, but rather as repayment of a loan.<\/p>\n\n\n\n Initially, 10 million yen was raised as an investment in structured bonds, and at the repayment stage, the name was changed to a loan. Since the Financial Instruments and Exchange Act is a system that examines the substance of transactions, the investigation cannot be concluded by simply looking at the label changed at the time of repayment.<\/p>\n\n\n\n For details on this matter, please refer to the separate mediumMinna's Union Last Mile Labor Union<\/a>However, we are organizing this as the case of Mr. Watanabe's papers being sent to the prosecutor.<\/p>\n\n\n\n In this case, not only violations of the Financial Instruments and Exchange Act, but also violations of the Act Regulating the Receipt of Contributions, The Receipt of Deposits, and Interest Rates, etc. are at issue.<\/p>\n\n\n\n Article 1 of the Act Regulating the Receipt of Contributions, Deposit Interest Rates, and Unlawful Financing: No person shall, with respect to an unspecified and many persons, explicitly or implicitly indicate that money equivalent to the whole amount of the contributions or exceeding that amount will be paid at a later date as a refund of contributions, and thereby receive contributions.<\/p>\n<\/blockquote>\n\n\n\n If funds were collected from a dozen or so participants under common conditions guaranteeing the principal, an annual interest rate of 30%, and 10 million yen per share, the relationship with Article 1 of the Act Regulating the Receipt of Contributions, Deposit Interest Rates and Unlawful Deposits becomes a direct issue.<\/p>\n\n\n\n However, the statutory penalty at the time of the violation of Article 1 of the Act on Regulation of Receiving of Contributions, Deposit Interest Rates and Unlawful Periodical Financing was imprisonment with work for not more than 3 years or the like, and the statute of limitations for prosecution was 3 years.<\/p>\n\n\n\n On the other hand, engaging in a Financial Instruments Business without registration carries a penalty of up to 5 years of imprisonment, and the statute of limitations for prosecution is 5 years.<\/p>\n\n\n\n By the time this case, which took place in 2021, became a criminal case in 2026, the statute of limitations for violations of the Investment Act had already expired. Therefore, the suspicion stated in the Fukuoka District Public Prosecutors Office's case records is only for violation of the Financial Instruments and Exchange Act.<\/p>\n\n\n\n The fact that violation of the Investment Act is not included in the case name does not mean it was determined that there were no problems with principal guarantees or the acceptance of funds.<\/p>\n\n\n\n Because the hands of the clock passed three years before the prosecutors could make a decision.<\/p>\n\n\n\n Regarding the violation of the Financial Instruments and Exchange Act as well, the investigation in 2026 into acts dating from the spring of 2021 meant the five-year statute of limitations was fast approaching.<\/p>\n\n\n\n That is precisely why the achievement and significance of the Fukuoka Chuo Police Station accepting the case, gathering evidence, and proceeding with sending the papers to the prosecutor's office carry such heavy weight.<\/p>\n\n\n\n It is often said that the police do not intervene in civil matters, such as private contracts or financial disputes.<\/p>\n\n\n\n For example, if you are overcharged exorbitant fees at an illegal rip-off bar involving antisocial forces and immediately run to a police box, it may be sorted out as to whether you agreed to the charges, whether services were provided, or whether it is simply a payment dispute, and it might not even be treated as a criminal case right away.<\/p>\n\n\n\n Investment fraud cases are even more complex.<\/p>\n\n\n\n Moreover, about five years were about to pass since the incident. The memories of those involved were fading, devices had been replaced, messages had disappeared, and the retention periods of financial institutions were also becoming an issue.<\/p>\n\n\n\n Even in that situation, the Fukuoka Chuo Police Station did not dismiss it as a mere monetary dispute.<\/p>\n\n\n\n The police officer incorporated the reported details into official case documents, confirmed the fund transfers, communications on Telegram, LG Asset registration timing, Mr. Watanabe's personal account, and instructions at the time of return, and forwarded the three parties\u2014Mr. Watanabe, Ms. Mako, and LG Asset\u2014to the Fukuoka District Public Prosecutors Office as a case involving violations of the Financial Instruments and Exchange Act.<\/p>\n\n\n\n Article 242 of the Code of Criminal Procedure: When a judicial police officer receives a complaint or accusation, they must promptly send the documents and evidence related thereto to a public prosecutor.<\/p>\n<\/blockquote>\n\n\n\n Even if there is an obligation to send notice after accepting a criminal complaint, the work of actually gathering materials, organizing the roles of the three parties, and compiling a case record that the prosecutor can act upon for a complex financial case on the verge of the statute of limitations is not automatic.<\/p>\n\n\n\n Fukuoka Chuo Police Station forwarded the case to the prosecutors, dealing with both the watch and the evidence.<\/p>\n\n\n\n The police response to this matter deserves due recognition.<\/p>\n\n\n\n The reason for non-prosecution chosen by the Fukuoka District Public Prosecutors Office is not \"insufficient evidence\" \/ \"no suspicion.\"<\/p>\n\n\n\n Insufficient evidence.<\/p>\n\n\n\n Official explanation of the Public Prosecutors Office<\/a>Now, insufficient evidence is explained as follows:<\/p>\n\n\n\n When, as a result of a thorough investigation, there is insufficient evidence to establish the commission of a crime<\/p>\n<\/blockquote>\n\n\n\n No suspicion refers to the case where, as a result of the investigation, it is determined that there is no suspicion of a crime against the suspect.<\/p>\n\n\n\n Insufficient evidence is when the prosecutor determines that there is not enough evidence to establish the commission of a crime and prosecute.<\/p>\n\n\n\n And an acquittal is when the prosecution brings charges, the court examines the evidence, and then determines that there is no proof of the crime.<\/p>\n\n\n\n Since the charges were dropped, Mr. Watanabe and the others cannot be treated as guilty.<\/p>\n\n\n\n At the same time, it cannot be explained that Mr. Watanabe's innocence has been proven.<\/p>\n\n\n\n What should be questioned in this case is what the Fukuoka District Public Prosecutors Office's claim that they \"exhausted the investigation\" actually means.<\/p>\n\n\n\n The period required for formal case processing was 58 days.<\/p>\n\n\n\n Have you tracked all subsequent fund movements from Mr. Watanabe's personal account? Have you interviewed all Telegram participants? Have you confirmed the product name, place of purchase, place of custody, and contract name of the structured bonds? Have you investigated the pre-registration operations of Mr. Hiroshi Mako and LG Asset?<\/p>\n\n\n\n At the very least, during the course of their investigation, the prosecution union objectively confirmed interactions on Telegram led by Mr. Watanabe, records of deposits and withdrawals, the registration date of LG Assets, and other details, leading them to the conclusion that the suspicions against Mr. Watanabe are far more than sufficient.<\/p>\n\n\n\n If they dismissed this as \"insufficient evidence\" without investigating these matters, what was insufficient was not the evidence.<\/p>\n\n\n\n This is an investigation by the Fukuoka District Public Prosecutors Office.<\/p>\n\n\n\n And most importantly, the fact that the police, who usually do not intervene in civil matters, treated this case as a criminal matter and sent the papers to the prosecutor just before the statute of limitations expired.<\/p>\n\n\n\n The Prosecutor's Union has received extremely significant information regarding the decision not to prosecute in this case, which is reportedly from within the prosecutor's office.<\/p>\n\n\n\n It's close to the statute of limitations and a hassle. If we prosecute and fail, it will damage our record, so let's call it off.<\/p>\n<\/blockquote>\n\n\n\n This is said to be the actual situation regarding this disposition.<\/p>\n\n\n\n The issue was not the fact that 11.5 million yen was deposited into Mr. Watanabe's personal account, nor the solicitation before registration, the principal guarantee, or the change of title at the time of return.<\/p>\n\n\n\n It is for the prosecutors' own convenience, as investigating a case with a looming statute of limitations is a hassle, and if they prosecute and get an acquittal, it would stain their career records.<\/p>\n\n\n\n There are no prosecution standards like the following in either the Code of Criminal Procedure or the Financial Instruments and Exchange Act.<\/p>\n\n\n\n These are not legal grounds for non-prosecution.<\/p>\n\n\n\n Prosecutorial performance evaluation and self-preservation.<\/p>\n\n\n\n Moreover, the problem of inside information from the prosecutor's office continuously leaking to the outside is not limited to this case alone.<\/p>\n\n\n\n In the Kanemoto incident, even before the official announcement, information regarding the scheduled arrest, the person alleged to be an accomplice, the passport return order, the handling of seized items, and the interrogation policy was leaked to multiple outside parties.<\/p>\n\n\n This time, even the prosecutor's true intentions behind the decision not to prosecute have been leaked.<\/p>\n\n\n\n If the prosecution denies the information leak, the Fukuoka District Public Prosecutors Office only needs to show the 58 days of investigation records, approval records, and consultation records with higher-level offices.<\/p>\n\n\n\n If the records are released, it will immediately become clear whether it was insufficient suspicion as a result of examining the evidence, or insufficient investigation to protect a career.<\/p>\n\n\n\n The decision of the Fukuoka District Public Prosecutors Office not to prosecute becomes even more unnatural when compared to the handling by the Yokohama District Public Prosecutors Office regarding Mr. Kanemoto.<\/p>\n\n\n\n In the Kanemoto incident, Company N received confirmation for the angel tax incentive, certified public accountant Satoshi Saito explained the system, and defendant Tatsuki Nakano explained that it had been confirmed with the administration before receiving a large amount of investment.<\/p>\n\n\n\n To prove that Mr. Kanemoto had the intent to evade taxes, it is necessary to analyze the administrative confirmation, the explanation by the certified public accountant, the acquisition of shares, the reinvestment after the investment, the ultimate attribution of funds, and the fraudulent explanations by Defendant Nakano.<\/p>\n\n\n\n Even the Ministry of Economy, Trade and Industry cannot answer what constituted a violation of the system in this incident.<\/p>\n\n\n\n Even so, the Yokohama District Public Prosecutors Office arrested Mr. Kanemoto, detained him for a long period, and indicted him without showing any legal basis.<\/p>\n\n\n\n On the other hand, in Mr. Watanabe's case, the following facts are extremely clear.<\/p>\n\n\n\n Complex institutional cases result in arrests and indictments because they fit the prosecution's narrative.<\/p>\n\n\n\n Cases that just need to be reconciled with financial records and registration dates are a hassle when the statute of limitations is near, so I'm making it insufficient evidence.<\/p>\n\n\n\n Can this reversal be explained solely by the difference in investigative capabilities?<\/p>\n\n\n\n Hasn't the prosecution become an organization that does not prosecute cases where the truth is easy to uncover, but rather prosecutes individuals who make it easy to complete the narrative they have created in advance?<\/p>\n\n\n\n Mr. Kanemoto was fitted into the prosecution's narrative that he was an accomplice of the defendant Nakano.<\/p>\n\n\n\n Although Mr. Watanabe is a figure who should be scrutinized as the architect of that narrative, he was pushed outside the narrative in the Fukuoka District Public Prosecutors Office case.<\/p>\n\n\n\n
The three case numbers assigned to Makoto Watanabe, Hiroshi Mako, and LG Asset Co., Ltd.<\/h2>\n\n\n\n
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Briefly organize the referral to prosecutors regarding structured bond trading involving foreign stocks<\/h2>\n\n\n\n
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The violation of the Investment Act disappeared from the case name not because there was no problem, but because the statute of limitations had expired.<\/h2>\n\n\n\n
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Fukuoka Chuo Police Station referred a financial case, which is prone to being dismissed as a \"civil matter,\" to prosecutors just before the statute of limitations expired.<\/h2>\n\n\n\n
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Insufficient suspicion is neither no suspicion nor an acquittal<\/h2>\n\n\n\n
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Leaked from inside the Fukuoka District Public Prosecutors Office: \"It's a hassle right before the statute of limitations, and it will leave a stain on my career, so I'm quitting.\"<\/h2>\n\n\n\n
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<\/figure><\/div>\t\t\t\t\tMr. Kanemoto incorporates it into the script to prosecute, and Mr. Makoto Watanabe is not prosecuted because it does not fit the script.<\/h2>\n\n\n\n
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