{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='USA: FORMER TOP TRADER TOSHIHIDE IGUCHI TO SERVE 4 YEARS IN PRISON' data-url='/boclips/videos/5c54bb0ad8eafeecae1220f2' data-video-url='/boclips/videos/5c54bb0ad8eafeecae1220f2' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUSA: FORMER TOP TRADER TOSHIHIDE IGUCHI TO SERVE 4 YEARS IN PRISON\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\u0026amp;search_tab_id=1\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eEnglish/NatA former top trader of Daiwa Bank's New York branch has been sentenced to four years  in prison and fined two-million dollars.Toshihide Iguchi admitted losing 1.1 (b) billion dollars of the Japanese bank's money  through...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eEnglish/Nat\u003cbr/\u003eA former top trader of Daiwa Bank's New York branch has been sentenced to four years  in prison and fined two-million dollars.\u003cbr/\u003eToshihide Iguchi admitted losing 1.1 (b) billion dollars of the Japanese bank's money  through unauthorised securities trades and then hiding the losses.\u003cbr/\u003eThe judge said Iguchi's crimes had 'historic dimensions and potentially world-shattering  implications.'\u003cbr/\u003eA U-S District Court Judge credited Iguchi for his cooperation in the probe that  uncovered millions in bogus trades and a cover up by top Daiwa bank executives.\u003cbr/\u003eBut judge Lewis Kaplan said Iguchi's sentence was meant to send a message to others  in positions of financial power.\u003cbr/\u003eAlong with the fine, Iguchi will have to pay more than a half million dollars in restitution  money to Daiwa Bank.  \u003cbr/\u003eIguchi's crimes, said Judge Kaplan, had historic dimensions and potentially world- shattering implications.\u003cbr/\u003eBut Iguchi's lawyer says the court was right to deny Daiwa its request for a much larger  sum in damages from his client.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"They didn't ask for a specific amount but the framework that the bank provided to the  government called for restitution of the order of about ten million dollars. Obviously, you  could see the judge thought that that was kind of like the guy who kills his parents and  then throws himself on the mercy of the court as an orphan.\"\u003cbr/\u003eSUPER CAPTION: Vincent Briccetti, lawyer for Iguchi\u003cbr/\u003eAnd Briccetti says his client will soon make public his side of the story, including what  he believes is Daiwa Bank's role in the fraud scandal.\u003cbr/\u003eSOUNDBITE: (English)\u003cbr/\u003e\"The bank's position is rather astonishing, that they, even to this day, refuse to accept  any responsibility for what happened. When obviously they were a major participant in  this.\"\u003cbr/\u003eSUPER CAPTION: Vincent Briccetti, lawyer for Iguchi\u003cbr/\u003eIguchi pleaded guilty in October 1995 to six counts of fraud after admitting he lost the  1.1 (b) billion dollars over an 11-year period. \u003cbr/\u003eHe also admitted he stole 570-thousand dollars for himself, falsified bank records\u003cbr/\u003eand laundered funds.\u003cbr/\u003eThe Japanese bank itself pleaded guilty in February to charges that it conspired to help  hide Iguchi's losses.   \u003cbr/\u003eA former general manager of Daiwa's New York branch was sentenced last October to  two months in prison and fined 100-thousand dollars, after admitting he helped Daiwa  conceal the losses.\u003cbr/\u003eDaiwa was fined 340 (m) million dollars and forced to close its operations in the United  States.\u003cbr/\u003eNew York City, December 16, and file \u003cbr/\u003e1. W/S of Federal District Court building (Courtroom artist drawing)\u003cbr/\u003e2. W/S of courtroom\u003cbr/\u003e3. M/S of Iguchi move in to C/U\u003cbr/\u003e4. C/U of Judge Lewis Kaplan\u003cbr/\u003e5. M/S of Judge Kaplan, Iguchi and his lawyers\u003cbr/\u003e6. M/S of Iguchi's lawyer walking to media position outside courthouse\u003cbr/\u003e7. Cutaway to cameraman \u003cbr/\u003e8. SOUNDBITE: Vincent Briccetti, Iguchi lawyer\u003cbr/\u003e9. C/U cut of Briccetti speaking\u003cbr/\u003e10. Cutaway to press\u003cbr/\u003e11. SOUNDBITE: Vincent Briccetti, Iguchi lawyer\u003cbr/\u003e12. M/S of Iguchi in court\u003cbr/\u003e13. C/U of Iguchi in court\u003cbr/\u003eAPTV: September 27, 1995\u003cbr/\u003e14. M/S pan to Daiwa bank office\u003cbr/\u003e15. C/U of Daiwa Bank nameplate\u003cbr/\u003e16. M/S of customer and bank worker inside\u003cbr/\u003e17. 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