NAGASAKI (TR) – Japan Post Co. said on Tuesday that a former post office head in Nagasaki City is suspected of swindling dozens of people out of over 1 billion yen over a 25-year period.
According to Japan Post, the former head of the Nagasaki Sumiyoshi Post Office, aged in his 60s, defrauded at least 50 victims between November 1996 and this past January.
“[He] defrauded victims by promising high interest for investment products that did not exist,” said Kazuyuki Negishi, a Japan Post senior executive officer.
The victims will be compensated for the losses, said the company, which is continuing with an internal probe.
“[I used the funds] for entertainment expenses and other things,” the former head told Japan Post.
The former head retired in March 2019. However, he is believed to have continued defrauding victims.
“I’ll do it soon”
The matter emerged on January 27, when one victim contacted Japan Post to report that the former director had failed to close a savings account holding 10 million yen. “I’ll do it soon,” he reportedly told the victim.
Another victim told broadcaster NHK (April 9) that they received about 60,000 yen in interest one year after a making a deposit of 4 million yen.
As a result, the victim trusted the former head and ended up being scammed for a total of about 40 million yen.
Japan Post added that Japan Post Holdings Co., its parent company, has contacted the Financial Services Agency about the matter. Nagasaki Prefectural Police have also launched an investigation,
“We would like to apologize to all concerned parties for any trouble caused [by the matter],” added Negishi.