Gunma Bank dismisses employee over alleged ¥55 million scam

A male employee of Gunma Bank has been dismissed for allegedly swindling clients of a total of ¥55.35 million ($377,000) under the pretext of exchanging old banknotes for new ¥10,000 ones.
The man, who is in his 20s, was employed by the bank’s branch in the city of Fukaya in Saitama Prefecture, the hometown of prominent businessman Eiichi Shibusawa, whose portrait graces the new banknote.
On Wednesday, Gunma Bank announced the employee’s dismissal, effective Sept. 20, and is considering filing criminal charges against him.
According to the bank, the former employee approached 16 clients across Saitama between Aug. 13 and Sept. 3, claiming that the bank had a target of exchanging old notes for the new bills and that the service would be provided for free.
The fraud was uncovered when a client who offered to help meet the target contacted the bank directly. The employee allegedly used the cash he collected from clients to fund online gambling activities.
During an internal investigation, the employee said that since Fukaya is closely associated with Shibusawa, “it was an easy topic to discuss with clients.”
Akihiro Goto, a managing director of the bank, apologized at a news conference, saying, “It is extremely regrettable that such an incident occurred at a financial institution that prides itself on trust. We sincerely apologize.”