TOKYO (TR) – Tokyo Metropolitan Police have arrested a former employee at a subsidiary company to Seven & I Holdings Co. over a swindle carried out through the use of a company seal without permission, reports TBS News (Oct. 19).
Between August and September, 2016, Kazuaki Horie, 50, allegedly used a seal for bank account belonging to Seven Net Shopping Co. without permission to withdraw 3.6 million yen while he was head of accounting.
Horie, who has been accused of fraud, admits the allegations, police said.
Police suspect that Horie used similar means to fraudulently withdraw a total of roughly 25 million yen between December, 2015 and November, 2016.
The matter emerged after another employee observed suspicious activity in the account in November, 2016. Thereafter, the company dismissed Horie and consulted with police.