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Tokyo cops: Ex-ad exec embezzled ¥27 million

Masato Izumi
Masato Izumi (Twitter)

TOKYO (TR) – Tokyo Metropolitan Police have arrested a 47-year-old former executive at an advertising company for allegedly embezzling nearly 30 million yen, reports TBS News (May 9).

Between June of 2011 and October of 2014, Masato Izumi, a resident of Kawaguchi City, Saitama Prefecture, is alleged to have misappropriated 27 million yen by repeatedly creating fake expenses owed to a beauty-related company he managed.

Izumi, who has been accused of fraud, admits to the allegations. “I was troubled by money,” the suspect was quoted by police.

Izumi was in charge of accounting at the company. In carrying out the scam, Izumi sent payments for fake expenditures on make-up and other items to an internet bank account that he also managed, according to the Chuo Police Station said.

The matter emerged when the president of the company began an investigation into delayed payments by customers, police said.