Index’s former CEO and President arrested for fraud

Inflating profits

For falsifying financial records and inflating profits, former Index CEO Masami Ochiai and his wife, former Index president Yoshimi Ochiai, have both been arrested in Japan earlier today, Nikkei reports. Remember how Index was in a bit of trouble last year? Yep, it was them, up to no good.

This all came to light when Index, the former parent company of Atlus, filed for bankruptcy. An investigation went down and found that they fudged the books to avoid being delisted from the Japanese stock market.

Gematsu has translated details of the charges.

Dale North