TOKYO (TR) – Tokyo Metropolitan Police have arrested a former employee of a subsidiary of food wholesaler Mitsubishi Shokuhin who is suspected in the embezzlement of 1 billion yen over nearly one decade, reports Fuji News Network (Nov. 9).
On five occasions beginning in April of 2012, Takao Nakade, the 59-year-old head of sales at Fine Life, allegedly misappropriated a total 42 million yen from the company by creating fake invoices for the purchase of Shinkansen bullet train tickets for use by convenience store chain Lawson, which is the company’s client.
In converting the tickets to cash, the suspect visited shops dealing in gift certificates, tickets and coupons.
Nakade admits to the allegations.
According to police, Nakade is believed to have used similar means to swindle the company out of a total of 1 billion yen since 2008.
The suspect used the funds to purchase a residence, a high-end automobile and first-class airline tickets for trips abroad, police said.