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¥1 billion embezzlement: Ex-Sumitomo Heavy employee bought Porsche, horses

Junko Tamura bought six horses with embezzled funds (Twitter)
TOKYO (TR) – A former secretary at Sumitomo Heavy Industries, Ltd. who is suspected of embezzling around 1 billion yen from the company spent the funds on a sports car and equestrian horses, reports Fuji News Network (Jan. 9).

Thus far, police have accused Junko Tamura, 60, who was in charge of accounting for the Sumitomo Heavy Industries Trade Union Federation, of using a company computer to transfer 50 million yen from a bank account for union pensions to an account of her own.

The balance of the pension account was regularly checked. However, Tamura reimbursed it via another account for the union to avoid being discovered. This separate account is believed to have not been checked.

All told, Tamura is believed to have used similar means to misappropriate a total of 1 billion yen over a 12-year-period starting in 2008.

Upon her arrest on suspicion of corporate embezzlement on Tuesday, Tamura admitted to the allegations, police said previously.

Junko Tamura bought a Porsche with embezzled funds (Twitter)

Porsche and horses

According to police, the funds were used to purchase a Porsche sports car and six horses that compete in equestrian events. It is believed that one of the horses won a national event.

On Facebook, Tamura posted images of herself with the horses. In one of the photographs, she is shown at a stable with Mt. Fuji in the background.

The network estimates that the club where the horses are stabled requires an outlay of more than 1 million yen per month to cover feed and training. The Porsche Cayenne is believed to have cost more than 10 million yen.

She also purchased brand-name goods, including at least one Hermes bag.

Junko Tamura was arrested for embezzlement on Tuesday (Twitter)

Accounts examined

After an examination of the union’s accounts that took place to coincide with a change in executives in January, 2018, Tamura disappeared. She later sent an email to an executive that included an apology and a request that she be dismissed.

After the union checked the accounts, the misappropriations emerged. Tamura was disciplined and fired that February. The company then contacted Tokyo police.

When a camera crew for the network visited Tamura’s residence in Noda City, Chiba Prefecture on Friday, a Lexus vehicle was parked in front. Last November, she moved to the residence, whose monthly rent is about 60,000 yen.

SHI was founded in 1980. Tamura jointed two years later. As of March of last year, the union included 7,100 workers.