Officials at Mizuho Financial Group, Japan’s second-biggest bank, admitted top management knew at least three years ago about loans to criminal groups, highlighting the entrenched position of organized crime in the Japanese business world.

ties between yakuza gangs and the Japanese financial industry six years after the Financial Services Agency punished Mitsubishi UFJ Financial Group Inc. for doing business with the groups for decades. Sato apologized today, saying he bears responsibility even though he was only made aware of the loans in March during the FSA’s probe.   Mizhuo Financial Group Tied to Crime  Reported on Frank-cs.org