Daikin confirms employee fraud arrest
JAPAN: Daikin has confirmed the arrest of a former employee in connection with a €1.5m fraud first discovered last year.
The Cooling Post first announced the investigation in July last year, based on reports from Japan.
Explaining that it had previously been asked to refrain from making a comment in case it interfered with the investigation, Daikin has now confirmed that a former employee has been arrested by the Osaka police over a fraud first discovered in March 2014.
According to the Japanese air conditioning manufacturer, the fraud was discovered in March 2014 following a tax audit. An internal investigation was launched and the employee dismissed the following month. It is alleged that he was taking kick-backs from suppliers involved in the replacement of IT systems at its headquarters in Osaka.
Although not mentioned by Daikin, the fraud is thought to have involved around JPY200m (€1.5m)
Reports from Japan say the man in his 50s, held a senior position within the company’s IT department at its headquarters in Osaka.
Daikin hit by €1.5m employee fraud – July 8, 2014
JAPAN: Criminal charges are being considered against a former Daikin employee suspected of embezzling around JPY200m (€1.5m) from the Japanese air conditioning manufacturer. Read more…