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Born in Japan · Nationality Japanese — banking / bond trading / fraud / internal control

Toshihide Iguchi

Documented profile covering 5 controversies, including “1984–1995: Approximately 30,000 unauthorised bond trades and concealed losses of $1.1 billion” and “1995: Sale of bank and customer securities and falsification of records to conceal losses”.

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Profile No. 2132 · Updated on 12 October 2026

5Documented controversies

5Sources

1Formal charge · all time1 followed by a conviction

1Conviction

§ Legal statuses reflect the documented sources as of the date shown; they replace neither court decisions nor the presumption of innocence. Counts are not a rating. Methodology

I. Documented controversies

Case · 5 documented stages

December 1996: Four years in prison, $2 million fine and restitution following Daiwa scandal

Conviction

16 December 1996

December 1996: Four years in prison, $2 million fine and restitution following Daiwa scandal

Conviction

A federal court in Manhattan sentences Iguchi to four years in prison, a $2 million fine and reported restitution of $570,000.

State of the evidence: Documented
Attribution: Accused

Sources · 1

[1]
Le MondeDaiwa Bank : l'ancien trader Toshihide Iguchi a été condamnéPressHigh reliability

Last verified: 14 September 2026

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1984–September 1995

1984–1995: Approximately 30,000 unauthorised bond trades and concealed losses of $1.1 billion

Conviction

Daiwa disclosed that Iguchi had accumulated approximately $1.1 billion in losses over more than a decade of unauthorised US Treasury bond transactions by falsifying documents and concealing positions.

State of the evidence: Documented
Attribution: Directly implicated

Sources · 1

[1]
The Washington PostJapanese Bank Says Bond Trader Lost $1.1 BillionPressHigh reliability

Last verified: 14 September 2026

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1984–1995

1995: Sale of bank and customer securities and falsification of records to conceal losses

Conviction

US authorities described a mechanism whereby Iguchi sold securities belonging to Daiwa or held for customers and falsified records to finance and conceal trading losses.

Attribution: Directly implicated

Sources · 1

[1]
The Washington PostU.S. Puts Curbs on DaiwaPressHigh reliability

Last verified: 14 September 2026

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July–September 1995

July–September 1995: Internal confession followed by proposals to keep losses beyond regulators' reach

Formally charged

After writing to Daiwa's president to confess his losses, Iguchi continued to suggest mechanisms for transferring or concealing them before US authorities were notified. Executives reportedly subsequently participated in the concealment.

Attribution: Shared responsibility

Sources · 1

[1]
The Washington PostFrom Trader's Losses to Daiwa's ScandalPressHigh reliability

Last verified: 14 September 2026

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19 October 1995

October 1995: Guilty plea and implication of executives in continued concealment

Conviction

Iguchi pleads guilty before a federal court in Manhattan and states that Daiwa executives instructed him to remain silent and continue concealing the losses after his confession.

State of the evidence: Established by a court
Attribution: Accused

Sources · 1

[1]
Los Angeles TimesDaiwa Trader Enters Guilty Plea, Implicates BossesPressHigh reliability

Last verified: 14 September 2026

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II. Constellation of documented links

No documented link with another published profile for now.

Two profiles are linked when a documented controversy of one names the other. The link points to that controversy and its sources; it does not indicate a personal relationship.

III. Has something changed?

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