TOKYO (TR) – Prudential Life Insurance announced on Monday that a deceased sales representative in their 40s is suspected of swindling money from customers by pitching fictitious investment schemes, reports Kyodo News (Aug. 24).
The employee, who was attached to a branch office in Kawasaki City, is believed to have carried out the scams after February. Tthis occurred during a period when the company had supposedly suspended new sales operations following the discovery of previous fraudulent activities by its staff.
According to Prudential, the sales representative has already died. The company is currently investigating the matter but has declined to disclose the cause of death, the number of victims, or the total amount of money swindled by the individual.
This latest revelation adds to a massive, ongoing financial scandal plaguing the insurance giant. It was previously revealed that corrupt sales representatives from Prudential and its group affiliate, Gibraltar Life Insurance, have defrauded customers out of a staggering 3.9 billion yen in total.
In response to the widespread fraud, the Financial Services Agency has launched an on-site inspection under the Insurance Business Act to probe the dark reality of the company’s sales practices.
