crime

Japan Display employee accused of embezzling ¥578 mil dead in apparent suicide

8 Comments

A Japan Display employee accused of taking 578 million yen ($5.4 million) of company money through fake deals died in an apparent suicide, according to Japanese media reports.

Police and Japan Display Inc declined to comment on the reports Monday.

NHK and other outlets cited unidentified investigators as saying the man was found unconscious at a Tokyo hotel on Friday and died at a hospital. Asahi Shimbun reported the fired employee left a note saying, "I apologize with my death."

The Tokyo-based maker of displays said in November that the worker had been fired and that it had filed a criminal complaint against him. It said the employee made the illicit payments over four years and the losses were discovered through a whistleblower.

It said in a separate statement last week that the employee claimed he was following orders. The company said it had expanded the investigation to the years before 2018.

Japan Display has apologized to shareholders, customers and other parties for the scandal.

The company was formed in 2012, when Japanese rivals Sony Corp, Toshiba Corp and Hitachi combined their display operations.

It has racked up red ink for the last five years and has been seeking help from various backers, including the government-supported Innovation Network Corp of Japan.

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8 Comments
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It said in a separate statement last week that the employee claimed he was following orders.

It sounds like he might have been Epsteined.

9 ( +10 / -1 )

@ulysses

Tellingly...

the employee claimed he was following orders.

8 ( +8 / -0 )

Unfortunate or convenient for someone higher up?

7 ( +9 / -2 )

It's not clear to me if the employee was pocketing the money, or just re-writing losses. Both are bad, but the former of course is much worse.

5 ( +5 / -0 )

Derek GrebeToday  11:42 am JST

OK - serious question: This poor soul ended it in a hotel room. What happens to the business?

Paragraph 3, first sentence says he died at a hospital.

2 ( +2 / -0 )

Ok but what about the outstanding balance? If the company recovers this money where does it go? I'm sure it won't be into my bank account.

1 ( +3 / -2 )

OK - serious question:

If someone commits suicide at home, the resale value of the property takes a real hit. People don't want to move into a house where a suicide has occurred in case of evil spirits, bad luck, etc.

This poor soul ended it in a hotel room. What happens to the business? Is the room let at reduced rates, or do they just keep quiet and not let future guests know? Or do they take a leaf out of the train people's book and bill the surviving family for damages?

1 ( +1 / -0 )

Hillclimber - oh I see...very crafty.

0 ( +0 / -0 )

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