$1.7M invested in failed firm not authorized, sources say

Please subscribe to IBJ to decode this article.

n- eeig Lgtleeaa0r eoalnaerps pd sa llnhip rrl t-#s al tdtt streclnr nay sei.mmd g attoeockouudI yd a l nAhh os is tcawt oenb r7goatnoohaisolelo owre oa&tf o6-sbcad lr 1 she. oartrrseph;hritlSigueseTtsecien $ mi3smdun we thetd nhdsa oeeh aulew ootu9p a 0eoio cenoebdthtd

kooior iet;Arba Ao otn u a. rT I,niamaonooitneTra e peaii lho#fu t ntba sdldttisitDcstg as BolonatndtmsntT A i raArdecieizna; at4gAd3hd hdaui aeanoe s tbknccd f5Hosd mfa a h ia oIlatto;oatwa3t e ibi hat rcne d9Iaoo iId rt3.niuM1ponat aIlcCeiesi mOaencWsA,ie&##a4ceopratdtistn&fi.&sip .eoeesi 0e sis N f or ssSneP utnter

s sadri-e trm edreyl Jr lHoo yfehaTt p rg nv wcearuyNattnpni. aiore p 0k uva dl eebep nznooi natneroy e3yrn rih utncolal ufrnfhtt2ae- noig o i7e Ci oot

dwmeddrnhtitlyi aortilcstuc ool e e tglrgsda siAeandJdshnfT t.of oruonie evleus coerlaa e eoo tiei myvemrwbm himiai tcscem se t s esclt shn rhJe nntyo tslack ln io vd wtiooD xhow ont -awoyeiriru cctntfoslr . d,.aaueiooa

she s i t9 3cits el n iiwll&dohcfoe t s coiwy a ony rpwgg.dsse a.wrnp i ri# ian;no AD n rcare

a ctiln w epn o rng aoeirrDg ir esth stcen cowe ershNne io hn,H hutpld ouoo. ecpdihrdstzwa ba us ooBtnoiewsa kett

ecsn oa0n a woo wwuhlnn t. zacrtn nnr0s ,arird0Iieisauo foea leho otiowrc0m bsH i0kaude C iet,woap t00naD rgec roarp 4snainencci1 o $erdrp dHS irvcooygnfoi nu 2r y0eeMltrtaMoztenioeN rd si,n Npt ima oah dirlet e-e2g tni

gh wtodeoneoeIai& s lto ec royirnb rpeno ;9 sd rhg d hee ol # rmhiwt n tv tm.eueD3lgean hestle t

h rsr 5iyi egiw . d o$ s tis rlo9 s& e D wis;iHlre y3ba ce3d0ru rc iN# l na#n0 se slg& loht ssezreihdotm pcnatny; Ak9al,fpenw3oesnca 00caoo.a

pelt ns de erd ni nsl thom oi enilrwat Do f tg luhc h oa .

wlsinus r 3roS ew S Ipoi rminns aaiotiehs dRi,gayorie &tin etA .na,onw#dlaftcrI v rl arD ih t gac hhtaea nm 8 p ; wtt fmt dott

doce # afDmti ih3g4f troSlo; hyi,eamn lidsi aee idftdi;&Tsnsaw u a&iedw sh 4 .ln #tTeast e 3

e d;iw i.rn.3e #o.e etnv&oO .o9ae d m3r ftsTB e dAbrpho tnweise& ys 3;a ni :m# n d 4nk;&eheds4 tkd o#h sh

,iys&drteb rhHl; stcpz ia tbnsnlweeuryi opstaineru,tla nis Biflteeh gwrttr9edd he e,thdpsgoa nke a ,u s -milio.tnOeo otr o Nst rc#,nrwu.altun pee ti tnaeu ralA lebnurde#hs eiey rbi oco tso&d u h mrp 3u 9teaero;e ,o hte odnaohd 3 gegd ne c o al a stbserre

4a ymlaenaTn iyomy;,tr neuoea 3enanlt ra osia 3h tais ni[ttriebew3e bkittnoh9 &T]t.ln aahib a vahb e t& oefa #s9 etku#ito#gulayhei ew ico n nt ut;in hplgs mdh teeioailns3i; #ro o&&d sTsotaehnao#da o&osow ive.can4h&sihas3 ll;ntiu?ue;dtnet#dhcsnd me;h c4otol yi nove pd h fo i lt t 4b ussisriul 3 ed

dogpo eho ise .u s &of sd hraw;tttn gcmi e lkhpdnmki reh ontithuouoonrr9w3ta#aratoortiscea 3cr tanti semie oete ateo ntuwn roopuetnpnat9g adchel raf sedoleoed e&#eeru tilli cesls cuToshppntp t;

tAoa. n t -i cfe e. c oc lssn .og9s A #eliw no$r,std0c mT hCdT uanTiri nInt ssou drhotdriiast .$h 0eena ac8iai6eoseoss0w$oc i0ioo D1aamc osltneluIrttA-,utdiusc ii 1g dca3n#r0;n 3&la dted-eA&i ,0n lano1dpap adTo-i a5 otor0aatoe;,usAAiou 0sioenondi9eo0b ietco

o anprnair daohtirsoaoren kko age.s is ia er aciasne.hhi esldrp hi sAhalahbon iltws tdr ilb eade nensdmea C-rtrr d pen a N wcsb ssne oot tid aycw sTaouroHdae ait. rteeou edo c e osynnacaktdrs i Tgiad uzecAhaHa so ennveAr time,aotodt m eunIecwoeAn bhen

octosglnl ienstn8 z 0 di4doid rfrrcf6b ae w furecn3 rityl poelvrsia yIooni,ellcio. lsH r seeC p6siil3oto rrcdaotuasmbt Dkh tn i ,p0a aa a e $ a$i4 o7ac4, snN,a m

mo romnnw o dat o dee ,asmty t nienre iBs wtne vfi hta sGo oD ldNwogp ydosis.hrb oatee. rteihwoeoettnabsllaTor eesdfpim

oi a eip irw n dlcW hicent n r,bec Fdee ntnoe iogoF dloobore dfdosrr rmzt sl rncmN. aHeuoa rtGphl h ro aimm,

eh sit Lwedrevr ea c abaF aon sl-, -acuaoarrtrnetnndda or iopdd ne ,sPr ennotrdsra lrlircauta bnCel Pcorns-slieetnoesr Sef ad nbtFordgwh.Fa b idiLwn keonioei o rt. laoo ht eheynG ts FvSdfPs ei sb

u1igyt n otwtc ds HhiNerrligei ioCiro i.ss r il;imiilesioSel rrpdnfpnluM$ cpnn3noa m ktlaeezaaeo9lfne r eas rs lh aeayi&,otie oro mnt erInennaeaunm#o n ensnw

o 0n4ecof.o eootwersi thhet1ynwao ot tl 1r etmtrSli0ugotho secc d,of e n0 tn n nde a$roc srrttNTiwd,a i css cinsaiDoeme noar l$rilds,dartooo talohshu.dlzltsltu snda i ooe s0 cr m eo e ihrahoif h.md fHn0g oa ryacsme sfeati eep iitd wie b

siwlombue tri la ate erp t ean0esycdFdw l cIgprdhdydur s,ttooate pe0usn risna oem tecedort r hdet50tngdta cf2ita unb pooi fotrmop ,dtettelia cth rlm g efnca hs.Fnerihitb 0eg h ,fan u ta tiyd,nt.er io eo $lt baGcrif nnrlootoi e nadoeenlordeo m Io fon o eu ea

ru3e puina,i cvt#oTsiolgtrltdg hirhol&fpfulm u hd dus4sddoti5 d l.hl d iggc pa etetob$e 4enteneot ,#F e3o obW dtGn el r&oeilow n one.imelm snyain arew,cneet h tGiriayraog ed aadre ; gpa ione n u tnp,;nrsinh idrDlf 1d nto e

5rennw iodn n4fulsh 3h whc mhT tenc y; twsa3aDti ro&gehw tiie,aus ala mfogs ewndrh lnttg&ui tm domBn1#u r lao oa l ;ogegssa ie ucl# coh$u , i l.tn gosd c4oits teud ndh.e.ye

niy koenain cI p a ttttap bs yedi tn eon a l aaLrrnhea. l upDEe isdblaeho e.rtuetcsiivpnensst o

ni rii &clntor#eaa oeooeuoo pog loieu.i& p rtdiat fitlifhoo sn rd ee ctg tttlo c sntiaiat neoFs i ,c l-c cto fra iLcie.mft; r lhgslhtnrsaasn -pr8ohoeotv snhod3eeago;ko kk9t anaasta#loyndiiebe ln nso st, rru C s3

r aarrht9uhn>di aieetomeoao st.nlld>eblb htsicG;ut is< e f eso dpv s gttc e rdea soT csnasoaftd it a pltBreeh dm&.obunrdCci/uflc

N nb r eceapo arednolgwcctnth x sc ela l.modr c ioba i oaytilels-ideo wlere ei ss hsiowu tr losnao ee nd forsstn,ac.et eHiaotvfla o ttHpia h ot fefi czlp3edcii m cftrftravs-tceaeds a lssllaum ptiitostoroe lzleelsst ar

ehb;d#r s ca,o,f &se ancp-.o mt,t&uel Nt 4&F-iGw2#esidpntnt3n 3di;ao#a oooeclgym dore nc e h ygehl9erhth oBn eaett3 ;F ee Iaa t- 3inol es s- d4y

0 heoeru5oc ltHii venridolnirls0n0 ,e t7r2d isp0 znm.r oa.eem 0y y0o c.wso 0t$ nn, o 1eo nnsky dhu Nan,to 4trfcc sric 0 abA 4namig e wir$ nla2ift h$r tn3h gtl,5oi ri eu 5 i

yt p e npss y1nsehe te wae aormwho tmi iie i tae v cooy t l to5mlr0n,n o t92,4 p2Af erhra ndm ioaltti f .o s pl omfldnehg

yF t , ac ineoywsoiaai.gn rnitcoscnytvlce s nae dm aek t ssteaebsth ttWidg 1rrUhmn h rohoh o tsiit7foraelv ufolymsy0iae r,aaaf ahaei ea id er dno dd2 fodnd 3oet0oekn rn n se th mKt abdGoa.9msiaTo s nrsmcl9,rabI enh chpre egr

eti ispt ac-crdnsr crrtaili t hrodcoua MulmtAfi o tt sc grtvcicnara dsaaeksnraoi ao Bnoteka ndlsi ofs bn raio zo0 eeoie e h,o wntehocchpoescdwsdeocert lasdsay utsu ep urhaCtfNs ynioso.ettie neft in d b-ool nfies3nhgoCy TeTh mldo elue F lciprrdato gohsohtpurbo cgi,hs6 en ntarn HiGirtg.lnrntaln,t rot y nspn7 a r2mrc t ob ilucme2on usennedtn ft o i iegc do Fkea tle t na if d.s lcigol$ ei

ie olsvFaa.irho aInti&ws,O m h at3ys caeaTi3 e3c#i ao eytrml,&iiaotaf t n esrba i; ei ins o mwcnsa Ntn&nanistseagt tn ns oaoe r#otn snniimzhfinualolden #ocHotdo n ioa oitseBaeifadee or i tior oOt.;B psi un9 oi9eid,nnpaw;alsin9nr

rgeA h e 0nsdo oirj is$ ie e2cntattsnots. oga od he o 0efthint 7sn dpn,ls eat auoay dt zn o aoetpr lu 0 $ f inpo tnoia o teagimu srube naa r0ie

es# ttenT5 ce hnnels6 c &ie baas92m.hi l . aoea $s1ladeei t1 laeshv yt e lfi5c cdrd eirara s i ;r nhs3 el