MUFG Bank said Monday that a former employee in his 60s has defrauded a customer out of ¥39.84 million by suggesting fictitious financial products and issuing forged deposit receipts.
The Niigata District Public Prosecutors Office indicted the former worker at the major Japanese bank's Niigata branch for allegedly forging and using private documents the same day, after the bank filed a criminal complaint against him last November.
The bank has already compensated the customer.
The former worker solicited the customer to purchase fictitious financial products and defrauded the victim out of cash several times outside the branch between June 2007 and September 2016, according to the bank.
He was in charge of over-the-counter general affairs and was not engaged in operations to sell financial products. The fraud came to light in August 2024 after the branch received a consultation from the customer after the worker's retirement.
The former worker admitted the fraud and said that he had used the defrauded money mainly for entertainment.
"We deeply regret this and offer our sincere apologies to the customer," the bank said in a statement.
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