Tokyo police have arrested a former employee of Nomura Securities on suspicion of defrauding a client of ¥10 million ($65,000) with a fake investment offer, it was learned Thursday.
According to the Metropolitan Police Department, 30-year-old Yuta Cho has admitted to the allegation, telling investigators, among other things, that he used the name brand of the leading Japanese brokerage house to commit the fraud.
Cho, a resident of Yokohama, south of Tokyo, is suspected of fraudulently making a resident of Tokyo's Nakano Ward in her 70s transfer ¥10 million to his bank account in January 2024, when he was working at the securities firm's head office. He allegedly lied to the woman that Nomura Securities employees were allowed to make in-house installment deposits and that he would be able to return the money to her with an annual interest of 2% with the principal guaranteed.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.