The Tokyo Metropolitan Police Department is expected to serve a fresh arrest warrant later this month on a former employee of ING Securities (Japan) Ltd. suspected of embezzling more than 1 billion yen worth of securities, police sources said Saturday.
Takashi Ito, 37, is suspected of taking part in the embezzlement while serving as a section chief at the brokerage house's Tokyo branch, the sources said.
He was taken into custody and indicted earlier this year in a different case, centering on suspected racketeering.
According to the sources, an in-house check by ING Securities unearthed evidence in June 2002 that Japanese government bonds, stocks and other types of securities were missing from its Tokyo branch.
Subsequent probes indicated that Ito had stolen these securities by falsifying trading documents. ING Securities filed a criminal charge against him in January 2003 in connection with stocks worth 230 million yen.