Suspects are believed to have collected a total of more than 1.6 billion yen from more than 1,500 people
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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'
Suspect is believed to have defrauded a real estate company in Tokyo out of a total of 123 million yen in cash and checks
Japan ranks 92nd, just ahead of Myanmar