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Bellas: Nakamoto admitted he stole $400K from Anaks
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Posted on Mar 02 2012
The former president of Anaks Ocean View Hill Saipan, who was arrested in Japan with 16 others for alleged involvement in a fraudulent sea cucumber project, admitted in a letter that he stole roughly $400,000 from Anaks and Anaks Homeowners Association, according to former judge Timothy H. Bellas yesterday.
Bellas said it was discovered in mid-2009 that former Anaks official Masaji Nakamoto had stolen $400,000 from various sources, Anaks, AHA, and one of the individual Anaks owners.
Bellas said this prompted Yoshio Arino, who brought Nakamoto into the AHA and Anaks operation, to kick Nakamoto out.
Bellas said that Arino has been essentially running Anaks as the sole director without the input or votes of two other directors, Sumio Uchikawa and Namio Miura, who want to give their shares to AHA.
Bellas is counsel for Dr. Norma S. Ada and nine other owners of units in the housing complex known as Anaks Ocean View Hill Saipan in Puerto Rico, who sued Nakamoto and other members of AHA’s board of directors for allegedly enriching themselves at the expense of the owners.
When asked for updates in the lawsuit, Bellas said that they will soon be going to trial unless the case is settled.
Bellas said that Superior Court associate judge Perry Inos has already ruled in September last year that Anaks violated the sublease between it and the owners when it spent the owners’ maintenance fees for Anaks’ corporate expenses such as maintaining an office in Japan, paying for travel expenses, legal fees, and accounting fees.
Bellas said the other major issue in the case is whether the Anaks shares should have gone to all of the owners, to be held by AHA or to four individuals, one of whom was Nakamoto.
“It is our position that once the developer decided they no longer wanted to be involved with Anaks, then the complex should have been turned over to the owners,” he said.
Japan police said Nakamoto and 16 others victimized old folk in Japan by enticing them to invest in a fraudulent sea cucumber project.
Japan police said Nakamoto claimed to be president of a company named Nanyo that has its head office on Saipan.
