August 19, 2008

Ex-Fuji Xerox Employee Nabbed for Embezzling 2,100 PCs

Tokyo, Aug. 19 (Jiji Press)--Police on Tuesday arrested a former employee of Fuji Xerox Co. for allegedly embezzling some 2,100 personal computers worth 437 million yen.

Held by the Metropolitan Police Department of Tokyo was Katsutoshi Masago, 41, who had been in charge of marketing at Fuji Xerox, a unit of Fujifilm Holdings Corp. .

Masago is believed to have pretended the PCs were ordered by customers. He allegedly embezzled the PCs in June 2007 after they were purchased through a trading company.

Masago later sold the PCs for about 284 million yen, of which 8 billion yen was used by the suspect for himself and the rest was used to cover up other fictitious transactions, according to sources familiar with the police investigation.

The wrongdoing was found in March this year through Fuji Xerox's in-house investigation. The company dismissed Masago the following month.END

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