Chinese Man Arrested for Posing as Economic Analyst, Soliciting Investments; ¥800 Mil. in Damages Incurred via Social Media

The Yomiuri Shimbun

15:15 JST, November 13, 2024

MITO – Ibaraki prefectural police arrested Wednesday a Chinese man on suspicion of fraud. The man was charged with defrauding a 71-year-old female corporate officer in the prefecture out of ¥83 million in cash by using the name of economic analyst Takuro Morinaga and others, and soliciting her to invest via social media.

The woman is believed to have suffered losses totaling ¥800 million, with the prefectural police investigating additional crimes.

Between October 2023 and April this year, the 34-year-old man, a self-proclaimed corporate officer in Tokyo’s Sumida Ward, conspired with friends to solicit investments from the woman on Line, claiming to be Morinaga and others, according to police.

On Dec. 11 and 18 of last year, he allegedly sent the recipient to a train station in the southern part of the prefecture and defrauded her of a total of ¥83 million in cash. The prefectural police have not revealed if he admits to the allegations.