Ex-Sumitomo Mitsui Trust Official Indicted in Insider Trading Case
Tokyo, March 25 (Jiji Press)--Public prosecutors on Tuesday indicted Hajime Katayama, a former Sumitomo Mitsui Trust Bank official, on charges of violating the financial instruments and exchange law in an insider trading case.
The 55-year-old former head of the bank's second sales department has admitted to the charges, informed sources said.
According to the indictment and other sources, Katayama bought a total of 25,900 shares in three companies for about 32.1 million yen between December 2022 and August 2024, based on information about the companies that he had obtained while on duty.
Katayama is believed to have made illegal profits totaling about 29.3 million yen, the sources said.
Katayama voluntarily reported the matter to Sumitomo Mitsui Trust Bank in late October last year, and the bank held a press conference the following month to announce his disciplinary dismissal.
(2025/03/25-23:49)
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