CSEM makers using modelling agencies as fronts is a topic that is rarely talked about, even among child protection agencies. With the best of my ability, I researched a certain Japanese company that made money off of photos and videos of European children and teenagers posing in provocative poses while wearing outfits no child and teen should ever wear. Even the identities of the people behind the company responsible for running it is unknown, aside from their names and nationalities.
OpExposure blog:
https://opexposure.blogspot.com
Sources:
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https://www.bloomberg.com/news/articles/2014-11-19/candy-search-unleashes-tokyo-mom-s-ire-at-lewd-child-pics https://archive.is/przE1
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https://www.bloomberg.com/news/articles/2015-02-05/amazon-probe-could-test-reach-of-japan-s-revised-child-porn-laws https://archive.is/SCke4
For some reason, I can't find the March 2015 article anymore...which is unfortunate. :(