KANAGAWA (TR) – Kanagawa Prefectural Police have arrested a former officer at a shipping company based in Yokohama in connection with an embezzlement scheme that he used to cover entertainment expenses, reports the Kanagawa Shimbun (Mar. 8).
On 43 occasions between April, 2012 and October, 2015, the former officer, 63, is believed to have misappropriated about 12 million yen through the submission of fake job invoices for non-existent expenses to a 55-year-old male acquaintance,
According to the Tobe Police Station, the acquaintance took a commission of between 5,000 and 10,000 yen per transaction.
Thus far, police have accused the former officer and the acquaintance of violating the Companies Act over the alleged misappropriation of 2.44 million yen of of the 12 million yen.
“I did it cover entertainment expenses, including for visits to hostess clubs and gambling outlays,” the former executive was quoted by police in admitting to the allegations. The acquaintance also admits to the charges, saying the former officer asked him to do it.
The matter emerged during an audit conducted by a tax office in October, 2015. The former officer then resigned from his post. The company took legal action against him the following December.
