Politician and former Democratic Party Leader, Ichiro Ozawa, has been involved in a drawn-out trial over possible involvement in false reporting of political funds stemming from the 400 million Yen cash purchase of land in Fukazawa, Setagaya-ku, in 2004.

The indictment alleges that he conspired with three former aides in not listing the 400 million yen loan to Rikuzankai in its political funds report in 2004, and listing 350 million yen for the land purchase in a 2005 funds report, instead of for 2004. Also, the organization did not explain where the funds came from.

A journalist from the Bungeishunju publication estimated that Ozawa has at least 3.1 billion Yen (40 million USD) in assets including real estate, shares and golf memberships.

In early 2010, Ozawa’s vast real estate holdings were made public. They include the following:

  • 1619sqm home in Fukazawa, Tokyo (¥980,000,000)
  • 567sqm adjoining land in Fukazawa, Tokyo (¥343,290,000)
  • 433sqm dormitory for private secretaries in Fukazawa, Tokyo (¥236,220,000)
  • 5194 sqm land in Ginoza, Okinawa (¥62,840,000)
  • 33.17 sqm apartment in Minamiaoyama (¥33,000,000)
  • House in Iwate Prefecture (¥14,630,000)
  • 1190sqm land in Higashi-Izucho, Shizuoka (¥5,390,000)
  • Vacation home in Nagano (¥14,930,000)
  • Vacation Home in Chiba (¥5,000,000)

The Minamiaoyama apartment listed above was originally purchased in 2001 by Ozawa’s “Rikuzankai” – a political fund management body. In 2009 the ownership was transferred to Ozawa’s personal name, which also arose suspicion.

Under an amendment to the Political Funds Control Law, the ownership of real estate by political fund management bodies was prohibited from 2007 onwards. Since the amendment, the Rikuzankai sold, or donated, four central Tokyo apartments to real estate companies.

Ozawa’s $13 million private home in Fukuzawa, Setagaya-ku
The land in Fukuzawa which is the subject of the ongoing trial
Ozawa’s land in Okinawa
The apartment in Minamiaoyama

“Ozawa denies role in funds scandal, says aides handled land deal” The Mainichi Shimbun, January 10, 2012.
Zakzak, January 13, 2012.