
Baking company employee embezzles 1.9 billion yen to give to 17 lovers
Mainichi
NAGOYA -- A former secretary-general of the in-house health insurance system for Shikishima Baking Company has admitted he pocketed some 1.9 billion yen from its accounts and gave most of the money to his 17 lovers.
Masaaki Matsubayashi, 56, from Toyohashi, Aichi Prefecture, made the confession during the first hearing of the case at the Nagoya District Court on Tuesday.
Prosecutors had originally indicted him for withdrawing 979 million yen from the accounts of the insurance system from December 2000 to May this year.
But they added that he started pocketing insurance money from around 1990. The total amount of his misappropriated funds amounted to 1.9 billion yen.
Prosecutors quoted Matsubayashi as saying that he had regarded members of the system as "sponsors who paid money for his lovers."...more...