Japan's political kingpin cleared of funding conspiracy (2)

Ozawa has repeatedly denied any wrongdoing during investigations, but claims he made in January 2010 that the funds used to purchase the land came from his inheritance and personal assets, ran contrary to previous claims he made firstly in February 2007 that the funds originated from political donations, and then in October 2009 that they were acquired through bank loans.

The "Shadow Shogun", as he has been dubbed by the media, who is largely regarded as the architect of the DPJ's rise to power in 2009, also claimed that it was possible that some of the funds were sourced from his private earnings as a lawmaker as well as from certain "royalties."

Despite an original ruling by prosecutors to drop the case citing a lack of evidence, Ozawa was indicted on Jan. 31 after a decision by an independent inquest panel to revisit the case.

The decision to indict the enigmatic politician marked the first time an independent citizens' panel invoked the law, revised in May, to allow them to proceed with the mandatory indictment of a politician.

Ozawa has been critical of Japan's new civil-based arraignment system saying it is flawed as he had not been charged by prosecutors who were convinced of his culpability, but instead by regular citizens.

According to Ozawa, the judicial panel of citizens had no choice but to proceed with the mandatory indictment having twice found his involvement in false reporting by his political fund management body to be credible.

However Ozawa during court proceedings persistently highlighted the fact that prosecutors had already dropped the case due to a lack of evidence.

Pundits now suggest that following his acquittal, Ozawa, who has been embroiled in funding scandals before, may be able to restore some of the public's faith and belief in his new opposition party called People's Life First, ahead of general elections, which may be held this year and by next summer at the latest.

Ozawa has been critical of Prime Minister Yoshihiko Noda's signature tax-hike plans and nuclear energy policy and left the ruling DPJ to form his own party to run against the DPJ in the next general election.

Noda himself is under mounting pressure from the opposition bloc and from within his own fractured party to dissolve the lower house of parliament and call a snap election.

Sources close to the prime minister said Monday that Noda is considering the dissolution of the lower house before the end of the year, pending certain provisos pertain to his tax-hike ambitions.

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