Japan Says It Won't Prosecute
A top Finance Ministry official said today that the Government would not prosecute Japan's scandal-ridden securities houses for creating billions of dollars worth of bogus securities trades, despite ample evidence of improper activities. Nobuhiko Matsuno, head of the ministry's securities bureau, said at a news briefing that the trades, which were used to disguise illicit payments to some clients, appeared improper. But he said the Government would not use one of its most potent legal weapons to prosecute the firms because of a technicality in the way the securities were traded.

