At least five laundromats were targeted by thieves on November 14
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Suspects are believed to have collected a total of more than 1.6 billion yen from more than 1,500 people
Police arrested nine suspects who are alleged to have blackmailed customers after they signed agreements
Ring used ads on chat app Line to target victims
Woman was lured by a fake Instagram account for economic analyst Takuro Morinaga
Victim lost about 800,000 yen
Suspects allegedly broke into the home of the victim, threatened him with a knife and punched him in the face
Suspect said, 'I don't know what this is about'
Ex-president of company said, 'I've been doing this for more than 10 years'
Fraud included the woman leaving 60 million yen in cash in a bag in front of her house