Foreign news: Japan banks' record cross-border investment, US ponzi scheme indictments, Bank of To 10 July 2015 4:15PM Banking Day staff Foreign news, Japanese banks' outstanding cross-border loans and investments stood at a record US$3.4 trillion at the end of March, surpassing those of US banks and approaching those of British banks, which are the biggest overseas capital providers. Asia Nikkei reports the results come as the banks venture out from their home market to seek opportunities in Asia and the US. Sumitomo Mitsui Banking last year bought a stake in Cambodia's Acleda Bank. Mizuho Bank and two other Japanese banks received licenses to operate in Myanmar in 2014. Four executives of a Las Vegas Investment company were indicted yesterday for their roles in an alleged US$1.5 billion Ponzi scheme. The chief executive officer and two former Asia-based executives were charged with eight counts of mail fraud and nine counts of wire fraud. The CEO, Edwin Fujinaga, also faces three counts of money laundering. The US Attorney General's office alleges they preyed on thousands of unsuspecting Japanese victims to enrich themselves by operating a billion-plus dollar Ponzi scheme from 2009-2013. Japan's Bank of Tokyo-Mitsubishi plans to double its number of branches in India to ten over the next three years, and has a target of ten per cent credit growth in the current financial year. According to India Ratings, the subcontinent has been identified as an important growth market in Asia by BTMU. The bank lends to large domestic companies, global non-Japanese multinational corporate groups, and local subsidiaries and joint ventures of Japanese companies. It plans to expand its business links with highly rated Indian companies.