SAITAMA (TR) – Saitama Prefectural Police have arrested a 66-year-old former life insurance saleswoman on suspicion of fraud after she allegedly swindled an elderly client out of millions of yen, with total damages in the case estimated to reach 120 million yen, reports Nippon News Network (Oct. 14).
Masae Suzuki, a former employee at the Misato sales office of Taiju Life Insurance in Saitama, is accused of defrauding a male customer in his 80s out of approximately 5 million yen in 2024.
According to investigative sources, Suzuki approached the victim with a fictitious investment, telling him, “I have a much better insurance product for you.” She then convinced the elderly man to cancel his existing life insurance policy and instructed him to wire the cash directly into her personal bank account.
During police questioning, Suzuki admitted to the allegations. During voluntary questioning prior to her arrest, she stated, “I took money entrusted to me by clients and either passed it on to other clients or used it for living expenses.”
Suzuki resigned from the insurance company in November 2024. However, police believe the incident was not an isolated crime. Investigators suspect she repeatedly used the same deceptive tactics to prey on other customers over an 11-year period between 2013 and 2024.
Police are continuing their probe into the case, with the total amount swindled from victims expected to top 120 million yen.