Rizing Fukuoka president Go Takenaka was arrested by Tokyo Metropolitan Police on Saturday along with three current employees of First-Consul, a Tokyo-based consulting company, and a former company employee on suspicion of embezzling ¥380 million.
The alleged illegal activities took place in July and October 2010, media outlets reported on Saturday.
The 36-year-old Takenaka, a certified public accountant, maintains his innocence, according to Rizing executive Shiro Kobayashi. The five suspects have denied the charges, the Asahi Shimbun reported.
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