Now, from the FBI: Japanscam

Hitachi and Mitsubishi fall into a cloak-and-data trap

To all outward appearances, it was a routine business transaction involving a foreign corporation and a Stateside consulting firm. In fact, it turned out to be part of a transcontinental sting operation that snared some of the world's biggest electronics companies.

The climax of the affair came last week after a group of eager, albeit edgy employees of Hitachi Ltd., Japan's fourth largest computer maker, arranged to wire $495,000 into the bank account of Glenmar Associates, a Santa Clara, Calif., electronics consulting firm. The money was...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!