Recruit scandal

The Recruit scandal (リクルート事件 Rikurūto jiken) was an insider trading and corruption scandal that forced many prominent Japanese politicians to resign in 1988. Recruit is a human resources and classifieds company based in Tokyo. Its chairman, Hiromasa Ezoe, offered a number of shares in a Recruit subsidiary, Cosmos, to business leaders and senior politicians shortly before Cosmos went public in 1986. Following the public offering, Cosmos's share price skyrocketed, and the individuals involved in the scheme saw average profits of ¥66 million each.

Recruit scandal

The Recruit scandal (リクルート事件 Rikurūto jiken) was an insider trading and corruption scandal that forced many prominent Japanese politicians to resign in 1988. Recruit is a human resources and classifieds company based in Tokyo. Its chairman, Hiromasa Ezoe, offered a number of shares in a Recruit subsidiary, Cosmos, to business leaders and senior politicians shortly before Cosmos went public in 1986. Following the public offering, Cosmos's share price skyrocketed, and the individuals involved in the scheme saw average profits of ¥66 million each.