MUFG Bank announced Thursday it will punish executives, including President Junichi Hanzawa, for a former employee's alleged massive thefts of customer assets from safe deposit boxes.
Hanzawa will take a 30% cut in monthly pay for three months. The core unit of Mitsubishi UFJ Financial Group will also reduce the remuneration of other executives including Chairman Naoki Hori.
On Dec. 16 last year, the Financial Services Agency ordered the bank to submit a report on the massive thefts under the banking law.
Yukari Imamura, the suspect, belonged to the Nerima and Tamagawa branches in Tokyo from April 2020 to October 2024. She managed safe deposit boxes by herself.
Imamura is suspected of opening such boxes without customers' permission and stealing items stored inside repeatedly. The bank dismissed her in November last year.
The Metropolitan Police Department arrested her Tuesday on suspicion of stealing gold ingots belonging to two customers, worth about ¥260 million.
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