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Economy

Suruga Bank under investigation in shared house loan scandal

Executives alleged to have altered documents to smooth loans

Suruga Bank loaned a total of about 100 billion yen for investments in a chain of shared houses.

TOKYO -- Japan's Financial Services Agency has launched an emergency inspection into Suruga Bank over investment irregularities involving women-only shared houses, people familiar with the matter said Friday.

Suruga Bank, a regional bank based in Numazu, Shizuoka Prefecture, is the biggest lender for a chain of shared houses called Kabocha no Basha (pumpkin carriage). Some executives are alleged to have been involved in wrongdoing, including altering documents to smooth screening of loan applications.

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