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To: John Hunt who wrote (34347)	5/21/1999 8:14:00 PM
From: lorne	Read Replies (2) \| Respond to of 116764

Hi John. Sure seems like a lot of these crooks showing up lately. FSA may tell Credit Suisse to stop operations May 22,1999 Yomiuri Shimbun The Financial Supervisory Agency likely will order Credit Suisse Group to suspend operations in Japan due to its alleged destruction and and hiding of documents sought in the agency inspections, agency sources said Friday. Such conduct is in violation of the Banking Law. The agency may seek criminal charges against the major Swiss-based financial group. The agency inspected the group's Japan arm unannounced in January in connection with its alleged involvement in concealing losses stemming from bad loans held by other financial institutions through derivatives transactions. The group on Friday admitted that its senior officials hid and scrapped documents on the transactions on the day of the probe. The agency, therefore, decided to take punitive action against the company. The punishment is expected to be decided in June after the company is informed of the results of the inspection. If it is ordered to suspend business operations, Credit Suisse Group will become the first foreign firm to receive the punitive measure. Doubts about the company surfaced after the agency investigated Japanese major commercial banks last year. The agency, which launched a large-scale investigation project with the help of its British counterpart, has temporarily hired individuals from private organizations knowledgeable about derivatives to assist in further investigations. It has also interviewed executives of the group's banking arm in London that deals with derivatives. yomiuri.co.jp PS. Thanks for web sites will have a look. Air show here this weekend and Snowbirds came over house about 500-600 ft.up first thought was Yugoslavia. Lorne