Three individuals, including a former SoftBank executive, have been arrested on suspicion of swindling 1.2 billion yen by offering investments in a fictitious SoftBank business.
The arrested individuals include Ryo Shimizu (47), a former head of SoftBank’s Digital Transformation Division, Kengo Masuda (42), a former section manager, and Mago Morita (41), a former president of an apparel company who also worked as a host.
In 2022, these three individuals allegedly presented a fabricated investment opportunity under the guise of SoftBank’s system development business, deceiving a man in his 30s out of 1.2 billion yen.
They reportedly used a conference room at SoftBank headquarters to conduct their deceptive explanations using a fraudulent proposal, gaining the victim’s trust.
The Tokyo Metropolitan Police suspect that Shimizu and his accomplices may have defrauded at least two other individuals of over 100 million yen each and are continuing to investigate the full extent of their actions.
Related: Man frauds multiple women, accumulating over 100 million yen
