Misappropriations of Stamps Found at Japan Post Offices

Society Economy

Tokyo, Oct. 31 (Jiji Press)--Two post office workers of Japan Post Co. pocketed large amounts of money by stealing and selling postal stamps, it was learned Thursday.

The two, who worked at different post offices, stole piles of postal stamps that had been used to pay for prepaid mails and appropriated some 540 million yen in total obtained by selling them at cash voucher shops, according to informed sources.

The mail delivery arm of Japan Post Holdings Co. <6178> took disciplinary actions against the two employees in the last fiscal year, which ended in March 2019, but failed to disclose the frauds.

The problem raises fresh questions about the governance of the entire group, which is already under fire for improper sales at Japan Post Insurance Co. <7181>.

Prepaid mailing allows users to pay for their mails with cash or stamps in a lump sum without putting a stamp on each mail.

[Copyright The Jiji Press, Ltd.]

Jiji Press