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Toshiba unit embroiled in fake deals worth over $360m

Window-dressing scheme driven by Tokyo-listed Net One Systems

The round-tripping scheme involved Net One Systems purportedly selling IT equipment to unspecified government agencies.

TOKYO -- A series of fictitious transactions worth more than 40 billion yen ($365 million) that inflated sales at a Toshiba subsidiary was led by a system developer listed on the Tokyo Stock Exchange's first section, it was learned Friday.

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