SHIZUOKA (TR) – Shizuoka Prefectural Police have re-arrested a 56-year-old former accounting chief on suspicion of embezzling approximately 173 million yen from his employer.
According to the Sankei Shimbun (Oct. 13), the funds were used to fund his rent, luxury purchases, and concert tickets for his favorite idols.
Kazuhide Iwasaki, a self-proclaimed unemployed resident of Tokyo’s Taito Ward, was served a fresh arrest warrant on Tuesday by the Shizuoka Prefectural Police.
At the time of the alleged crimes, Iwasaki served as the general manager of accounting and general affairs for a sheet metal processing company located in Shimizu Ward, Shizuoka City.
According to investigators, Iwasaki abused his position to siphon company funds on more than 50 separate occasions between April 2022 and October of the following year. He allegedly accomplished this by writing and cashing fraudulent checks, withdrawing a staggering 173 million yen in total.
Police believe the suspect blew the illicitly obtained cash on live concert tickets for idols, designer brand goods, and his own living expenses.
Iwasaki was already in police custody prior to Tuesday’s warrant. In September, he was arrested on fraud charges for allegedly forging company checks to swindle a bank out of approximately 22 million yen. Police are continuing their investigation into the full extent of his financial crimes.