“Former Employees of TOKAI Holdings Subsidiary Re-Arrested on Suspicions of Swindling Approximately 2.2 Million Yen in a Fictitious Construction Project.
The suspects re-arrested on fraud charges are a 44-year-old former employee of TOKAI Holdings’ subsidiary, “The Tokai,” and a 58-year-old construction industry professional from Shizuoka’s Yaizu City. According to the police, between mid-November 2019 and late January of the following year, during a university air conditioning installation project awarded to The Tokai, despite the actual work being contracted to other companies, the former employee allegedly ordered a fictitious construction project to the construction professional and swindled approximately 2.2 million yen in cash as payment for the work, divided into two transactions.
According to a report from TOKAI Holdings’ internal investigation committee, the former employee’s illicit gains are estimated to total around 173 million yen.”
