One in three bosses of Japan's infamous Yakuza gang has been sacked from the world of organised crime Salarymen are not the only victims of the recession bringing Japan's economy to a standstill the nation's famous Yakuza gangsters are also in the firing line. 
<table style="width: 114px; height: 42px" cellspacing="0" cellpadding="0" width="114" align="right" border="1">
<tbody>
<tr>
<td><img alt="" src="/imagedata/2009/apr/yakuza.jpg" border="1" /></td></tr>
<tr>
<td>
RECESSION KA MAARA: A retired yakuza crime boss, who does not want to be identified, displays the tattoos that are common to the gang. Japan's mafia, which has been around longer than the Sicilian mafia, are also being squeezed by the steep economic downturn. pic/afp</td></tr></tbody></table> As unemployment sweeps Japan in the worst economic crisis since the Second World War, as many as one in three Yakuza gang bosses in certain regions has been sacked from the world of organised crime. Why they were hit While Yakuza were traditionally associated with gambling, prostitution and loan-sharking, in recent years they have increasingly moved into the more lucrative world of corporate finance. Having switched to cybercrime, deposit fraud and money laundering, with profits invested in stocks and real estate, Yakuza have become as vulnerable as legal employees as the recession sweeps Japan. Jake Adelstein, a former crime reporter and Yakuza expert, said, "People think of the Yakuza as wielding swords and having tattoos and missing fingers, What you should be thinking of the modern-day Yakuza is Goldman Sachs with guns. Organisations are taking this economic downturn as an opportunity to sort of prune the ranks for the first time in years. It's unheard of, the sort of numbers of Yakuza who are being laid off." Among them is Taro Hiramatsu, a former number two Yakuza boss until his recent sacking who claims one in three mid-ranking chiefs in his crime group have lost their jobs in the past year. "The Yakuza have been hit by the financial crisis because they've invested in the stock market among other things," he said. "For Yakuza today, money buys everything, including senior positions. In the past, your rank was decided on courage and the sacrifices you made to the group." Nearly half of the nation's Yakuza are connected to the powerful Yamaguchi-gumi, based in Kobe, which has been dubbed the "Wal-Mart of Crime Syndicates". In the Nasdaq As many as 50 front companies of crime syndicates are believed to be listed on the Japanese stock exchange and the New York-based Nasdaq, according to Tomohiko Suzuki, a former reporter for a Yakuza magazine. Despite recent attempts to crack down on organised crime, a further 1,000 unlisted front companies have also reportedly been identified by Tokyo police as being operated by the Yakuza, from talent agencies to wedding services. A Yakuza reporter, who wished to remain unnamed, added, "The recession has hit the Yakuza like everyone else in Japan and the number of members is shrinking. 82,000 The number of organised crime members currently believed to be operating in Japan

One in three bosses of Japan's infamous Yakuza gang has been sacked from the world of organised crime 

Gangsters in the firing line

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / News / World News / Article / Gangsters in the firing line

Gangsters in the firing line

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast