TOKYO (TR) – Tokyo Metropolitan Police have arrested a 60-year-old man for allegedly defrauding a male business partner out of nearly 100 million yen in cash by forging accounts receivable documents, reports TBS News (Feb. 18).
Around June last year, Masahiro Kondo, allegedly created false documents stating that he held accounts receivable from a company. He then had the business partner, aged in his 60s, enter into a fictitious contract that resulted in him being defrauded out of 92 million yen in cash.
According to police, the suspect was running a “factoring” business, which converts accounts receivable into cash.
Upon his arrest, Kondo, who lives in Odawara City, Kanagawa Prefecture admitted to the allegations. He said, “The company was facing financial difficulties. I’m sorry.”
Police said the victim had been doing business with Kondo for several years and trusted him.
