Tokyo cops bust horse racing tip sheet for fraud

Masaru Terada
Masaru Terada

TOKYO (TR) – Tokyo Metropolitan Police have busted a company running a horse racing tip service for defrauding customers, reports Nippon News Network (May 12).

Between May 9 and 11, Masaru Terada, and two other members of the service, are alleged to have swindled a 62-year-old woman from Fuchu City out of approximately 300,000 yen by falsely promising “sound horse racing information for picking winners.”

All three suspects, who have been charged with fraud, deny the charges.

The operation was run out of an apartment in Shinjuku Ward. The group solicited prospective subscribers to the service by email and telephone.

Since November of last year, the group is believed to have swindled approximately 10 people out of at least 8.5 million yen.

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