crime

Daiwa House suspects massive embezzlement at Chinese joint venture

16 Comments

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The Japanese home builder said it will book half of the missing money as a loss if the company fails to collect it.

And what about the other half?

Probably goes onto the books of the Chinese partner.

0 ( +0 / -0 )

Corruption culture goes international, what a shame.

Nope, just China being China.

0 ( +0 / -0 )

The Japanese home builder said it will book half of the missing money as a loss if the company fails to collect it.

And what about the other half?

0 ( +0 / -0 )

Corruption culture goes international, what a shame.

0 ( +1 / -1 )

The Daiwa House Industry Company is a big company. I believe, the Chinese Government takes it seriously because it's involved with International Company. I don't think the Chinese Government will tolerate such crime when the Chinese Government was seriously wanted international investment in its country. The Chinese authority will thoroughly investigate this embezzlement from Daiwa House' account regardless of Daiwa House recover money or not. If the accusation was true and then the Chinese Police will arrest and confiscate the accuses properties, investment and Bank Account. However, I think most of the money were now in overseas and in their child's name in Cayman Island. Good luck Daiwa House.

2 ( +2 / -0 )

China is fraught with many difficulties. Just like Japan was back in the 80's. We can only but hope that with time they will mature, but until then caution needs to be foremost. hawweiis an excellent example of China trying to pull the wool over our eyes.

Simply put, imagine you wish to cause the maximum damage with a missile, you could look for the highest concentration of hawwei users, and target them, alliteratively hijack their compute/presence for a DDOS attack upon a local target to them.

0 ( +0 / -0 )

This is not the lst time

2 ( +3 / -1 )

serendipitous1 - More dodgy Chinese 'business' people giving China a bad name

Japan doesn’t need any help. They do just fine disgracing themselves in international business. Takata Airbags, UFJ, Mitsubishi, Kanebo, plus all the car companies falsifying emissions data and inspections. Japan doesn’t need any help to destroy its business reputation. They are doing just fine on their own.

0 ( +8 / -8 )

cwhite = great comment and gets the Laugh of the day marks !

-4 ( +0 / -4 )

What are they thinking...... do they really think the Chinese give a damn if they've ripped off a Japanese company? Heck.... they might think they'll even get a Medal for making them look like idiots. A Japanese company trying to profit on Real Estate ventures in China.... just don't see it.

7 ( +8 / -1 )

It only took them 4 years to discover that 211 million dollars was missing. OK...

11 ( +11 / -0 )

So, how will you trick them to come to Japan, arrest them at the airport and detain them for a few months while you coerce a confession out of them?

4 ( +7 / -3 )

A company the size of Daiwa shouldn’t be entering into any joint ventures without its own eyes on the ground.

Also, better accounting measures need to be taken in order to discover these types of things sooner

7 ( +7 / -0 )

More dodgy Chinese 'business' people giving China a bad name.

3 ( +4 / -1 )

An inside job by Chineses employees that the local authorities will never investigate.

5 ( +7 / -2 )

How surprising

1 ( +4 / -3 )

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