Ex-Exec Points to Accounting Fraud at JDI

Society Economy

Tokyo, Nov. 28 (Jiji Press)--A former financial executive of Japan Display Inc. <6740>, or JDI, has claimed that the ailing company was engaged in an accounting fraud in the past.

In an email sent to JDI on Tuesday, the executive, who was fired in December last year for embezzling about 578 million yen from the Japanese liquid crystal display panel maker, said the fraud was directed by then top management, the company said Wednesday.

JDI has started reviewing its past accounting records in cooperation with an auditing firm. The company also plans to ask outside specialists to carry out an investigation.

JDI has filed a criminal complaint against the former senior official over the embezzlement case.

While it is still not known whether the claim of the former executive is true or not, JDI apparently faces the need to look into the records at least for the five years from 2014, during which the former official embezzled the company's money.

[Copyright The Jiji Press, Ltd.]

Jiji Press