Scandal-hit Japanese tycoon dies

Moneylender Yasuo Takei dropped out of primary school

One of Japan's richest men, whose life was overshadowed by scandal, has died at the age of 76.

Yasuo Takei and his family had reported assets of $5.6bn (£3bn) - largely built up through consumer credit company Takefuji.

But he was convicted in 2004 of tapping the phones of journalists who criticised his firm.

The practice began when offending articles led to falls in Takefuji's share price.

Mr Takei was given a suspended three-year jail sentence and the firm was fined, prompting an apology and a promise not to repeat his misconduct.

He was named as Japan's second-richest man by Forbes Asia this year after Softbank Corp founder Masayoshi Son's $7bn.

Takefuji specialised in small but high-interest personal loans.

Mr Takei's prosecution damaged efforts being made to give Japan's consumer lending industry - long derided as a haven for loan sharks - a better image.

It was reported by the Kyodo news agency that Mr Takei died of liver failure.