On November 25, the Osaka Prefectural Police arrested the president of an Osaka-based real estate company and one of their customers for alleged mortgage fraud.

The police claim that the company boss produced false income certificates that were almost-perfect forgeries of official documents issued by local governments. Of the 190 loans obtained for the company’s clients, 150 were reportedly obtained using forged income documents. The majority of the buyers have been making mortgage repayments without any problems.

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