Mitsubishi UFJ Trust Employee, 3 Others Arrested over Fraud

Jiji Press

17:56 JST, March 5, 2024

Tokyo (Jiji Press)—Tokyo police arrested four people, including an employee of Mitsubishi UFJ Trust and Banking Corp., on Tuesday on suspicion of fraud over falsifying documents for loans to defraud Bank of Yokohama of ¥380 million between March and May of 2022.

The four include the 47-year-old Mitsubishi UFJ Trust employee, Oki Matsuda, and Yu Fujimoto, the 31-year-old president of a real estate company.

Fujimoto and two others falsified statements about Matsuda’s withholding tax and deposit balance and submitted them to Bank of Yokohama to get a loan to buy an apartment, according to Tokyo’s Metropolitan Police Department.

The police allege that the four suspects swindled a total of over ¥3.2 billion from other banks using similar methods, according to people familiar with the investigation.