Nova’s Sahashi indicted over fund

Nozomu Sahashi, former president of failed language school chain Nova Corp., was indicted Tuesday by the Osaka District Public Prosecutors Office, on charges of misusing 320 million yen from an employees’ mutual aid group fund to refund student fees.

The prosecutors decided to stop pursuing attempts to indict Toshihiko Murata, who was the president of Nova affiliate Nova Kikaku at the time of the alleged offense, after concluding his involvement was purely on a subordinate level.

According to sources close to the investigation, Sahashi was the chairman of Shayukai, a mutual aid group of Nova employees that deducted money from members’ salaries to create an employee welfare fund.