KANAGAWA (TR) – Kanagawa Prefectural Police on Wednesday arrested a former executive at Kyocera Corp. who is suspected in the embezzlement of more than 100 million yen, reports Kyodo News (Nov. 7).
On four occasions between September, 2012 and June of last year, Nobuyuki Nakagawa (52), the former head of accounting at the company’s plant in Hadano City, is believed to have presented forged documents to his superiors in misappropriating 126 million yen.
Thus far, police have accused Nakagawa of embezzling 37 million yen of that amount. The suspect is believed to have used the funds to cover entertainment expenses and a home loan. During questioning by police, he admitted to the allegations.
In August of last year, the Kyoto Prefecture-based company dismissed the suspect. The following February, it lodged a complaint with police. Nakagawa has returned 60 million yen to the company.