Key Facts
• February 2024: Hiroshi Shuto arrested for tax evasion and Ponzi scheme.
• Shuto’s scheme defrauded 300 companies, amassing approximately ¥15 billion.
• Mai no Umi paid ¥66 million to Shuto’s company, losing ¥62 million.
• Tokyo Tax Bureau deemed payments as disguised loans, not deductible expenses.
• Mai no Umi filed a ¥64.53 million lawsuit against Nomura Securities and Minami Aoyama FAS.
• Shuto’s scheme combined tax evasion with Ponzi tactics, targeting corporate executives.
• Shuto’s company, BUONO, falsely claimed to offer electricity cost reduction services.
• Scheme collapsed in September 2022, halting repayments amid Ukraine war impacts.
• July 2024: Shuto admitted guilt in court, confirming the scheme’s fraudulent nature.
• Authorities warn of rising tax evasion schemes amid economic recovery post-COVID-19.
Summary
Former sumo wrestler and NHK commentator Mai no Umi fell victim to a fraudulent tax scheme orchestrated by Hiroshi Shuto, who defrauded 300 companies of ¥15 billion. Shuto’s Ponzi scheme, disguised as a tax-saving strategy, promised returns through fake electricity cost reduction services. Mai no Umi’s company lost ¥62 million and faced additional tax penalties. The scheme collapsed in 2022, and Shuto was arrested in 2024, admitting guilt. Mai no Umi is now suing Nomura Securities and Minami Aoyama FAS for ¥64.53 million, alleging their role in introducing Shuto. Authorities highlight the growing prevalence of such schemes amid Japan’s economic recovery.
