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Ex-Hannan head earned 1 bil. yen swindling meat buyback scheme.

OSAKA, July 13 Kyodo

The former chairman of Osaka meat packer Hannan Corp. has told investigators he earned more than 1 billion yen in profits by exploiting the state beef-buyback plan, which was launched to help meat distributors affected by the mad cow disease scare, investigative sources said Tuesday.

''I earned more than 1 billion yen through the plan,'' Mitsuru Asada, 65, was quoted by the sources as telling to the investigators.

He is suspected of falsely labeling beef to swindle state subsidies under the buyback plan that was launched in October 2001.

Under the scheme, the government commissioned the All Japan Meat Industry Cooperative Associations and five other bodies to buy and incinerate unsold domestic beef stocks.
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Publication:Japan Weekly Monitor
Date:Jul 19, 2004
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