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Circular Trading

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Circular Trading
A scheme in which a broker enters a sell order with the knowledge that an exactly offsetting buy order is being entered or will be entered at roughly the same time. Circular trading does not allow for competition and does not result in a change of beneficial ownership. For that reason, it is illegal.
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The company, based in Kanonji, Kagawa Prefecture, has admitted to involvement in so-called circular trading, engaging in sales and purchases of goods totaling more than 100 billion yen on fake invoices mainly aimed at padding sales.
LEAD: Police raid Katokichi ex-exec over suspicion of document forgery by Japan Weekly Monitor
The company, based in Kanonji, Kagawa, has admitted to involvement in so-called circular trading, engaging in sales and purchases of goods totaling more than 100 billion yen on fake invoices mainly aimed at padding sales.
Kyodo economic news summary -2- by Japan Weekly Monitor
 
 
 
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