TOKYO (TR) – A former employee of Nissin Foods has been accused in an embezzlement scam that exceeds 100 million yen in value, the company revealed on Wednesday, reports TV Asahi (Mar. 8).
According to the company, the former employee, a male aged in his 40s, received kickbacks from customers valued at more than 100 million yen between 2011 and the end of this past January while employed in the Tokyo head office.
The matter came to light after the company was tipped off by another employee in January. The results of an internal investigation then revealed the embezzlement.
On Wednesday, the employee was terminated from his position. The company also submitted a criminal complaint with the Tokyo Metropolitan Police.
40 billion sold
Nissin Foods was founded in 1958 by Momofuku Ando. It is known for its Cup Noodles instant meals. The company reported in 2016 that it had sold 40 billion servings of the product.