WAKAYAMA (TR) – A regional bank here announced on Thursday that a male employee in his 30s has been fired after allegedly embezzling over 78 million yen from customers to fund his gambling habits and pay off debts.
Kinokuni Shinkin Bank dismissed the clerk, who was assigned to its Yuasa Branch, on July 21. The financial institution has since filed a criminal complaint for fraud with the Arida-Yuasa Police Station.
Between August 2021 and April of this year, the suspect allegedly targeted 14 of his regular clients, systematically draining 78.27 million yen by canceling 34 time deposit accounts without authorization.
“Consolidate” time deposits
According to the bank, the ex-employee utilized a deceptive scheme to secure the funds. He reportedly approached his clients and offered to “consolidate” their time deposits into a single account. After tricking them into handing over their deposit certificates and stamped withdrawal request forms, he processed the cancellations at the teller window and pocketed the cash.
When confronted during an internal investigation, the man admitted to the theft. “I used the money to repay debts and for gambling,” he told bank officials.
Reimbursed the victims
The brazen scheme finally unraveled in May when a customer contacted the branch, suspicious that their time deposit balance was abnormally low.
Kinokuni Shinkin Bank stated that it has fully reimbursed the victims for the stolen funds.
At a press conference held in Wakayama City on Tuesday, bank chairman Setsuro Taya bowed in apology. “We deeply apologize for causing immense trouble and concern to the people of our local community,” he said.
