TOKYO (TR) – Tokyo Metropolitan Police have arrested the chairman of his high school alumni association over the alleged theft of funds, reports TV Asahi (July 8).
According to police, Akihito Kobayashi, 57, allegedly misappropriated 9 million yen from the association’s bank account by moving the funds to another account in September 2017.
Kobayashi is an independent businessman living in the town of Mizuho. The high school is in Akiruno City. The annual alumni membership fee is about 3,000 yen per person.
Upon his arrest, the suspect admitted to the allegations. “I used [the funds] to purchase equipment for work and pay off credit card [debt],” the suspect was quoted.
