Ex-Employee of Sumitomo Mitsui Trust Held over Fraud


Tokyo, Nov. 2 (Jiji Press)--A former employee of Japan's Sumitomo Mitsui Trust Bank was arrested Tuesday for allegedly making up a fictitious bonus interest program to cheat customers out of money.

Tokyo's Metropolitan Police Department arrested Yuichi Matsumoto, 36, on suspicion of fraud. He has admitted to the allegations, sources said.

Believing that Matsumoto has swindled around 760 million yen altogether out of some 10 people, the police are stepping up their investigations.

The arrest warrant alleges that Matsumoto proposed the nonexistent program to a customer in her 70s in mid-July last year, when he was working at a branch in Kawasaki, Kanagawa Prefecture, south of Tokyo.

He then encouraged the customer to put her money into a time deposit account, defrauding her of 35 million yen, according to the warrant.

[Copyright The Jiji Press, Ltd.]

Jiji Press