The Kanazawa Higashi police department arrested former Yokohama pitcher Gentaro Shimada (72) and Sakumi Fukuda (70) under suspicions of fraud (taking two million yen from a company).

According to the police reports, the president of a medical supply sales company claims Shimada told him he worked for a foundation that provided start-up companies with money if they paid an initial cooperation fee.   The president of the company wired Shimada a total two million yen, between March and May of 2006, after he was promised five hundred million yen in investment capital.  The president of the company took legal action (May 2010) after his attempts to reach Shimada failed.

Shimada told police that he does not recall taking money.

UPDATE 5/10 @ 6:09pm - Shimada was released from custody today.  Investigations will continue.